US pre-open: Futures firmly higher following Memorial Day break
Wall Street futures were firmly in the green ahead of the bell on Tuesday as markets returned from an extended break for the Memorial Day long weekend.
As of 1220 BST, Dow Jones futures were up 0.59%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.47% and 0.34% firmer, respectively.
The Dow closed 64.81 points higher on Friday amid a continual drop in the number of new Covid-19 cases across the country.
Stocks reliant on a reopening of the US economy were trading higher in pre-market trading, with the likes of Carnival, Norwegian Cruise Line, American Airlines, United and Boeing all on track for a positive open.
The moves came after the Centers for Disease Control said more than half the US population had received at least one dose of a Covid vaccination, with more than 62% of adults receiving at least one dose. Optimism was further boosted by news that the US recorded just 12,663 new cases on Saturday, the lowest figure seen since March 2020.
SpreadEx's Connor Campbell said: "Against a backdrop of the lowest Covid rates in a year in the States, the Dow Jones is set to return from Memorial Day with a 200-point-plus increase, one that would leave it at its best price since May 11th, and only 320 points from its 36,000 all-time high."
AMC Entertainment was also in focus ahead of the bell, jumping as much as 7% in the pre-market after selling $230.5m in new stock to an investor.
Still to come, Zoom Video and Hewlett Packard will both report their latest quarterly earnings results after the bell.
On the macro front, IHS Markit's final manufacturing PMI for May will be released at 1445 BST, with the ISM's manufacturing PMI set to follow at 1500 BST.
April construction spending figures were also slated for publication at 1500 BST, while the Dallas Fed's manufacturing index was scheduled for 1530 BST.