US pre-open: Futures in the green following three-day slump
Wall Street futures were in the green ahead of the bell on Tuesday following a three-day rout for major indices.
As of 1200 GMT, Dow Jones futures were up 0.93%, while S&P 500 and Nasdaq-100 futures were 0.99% and 1.15% stronger, respectively.
The Dow Jones closed 433.28 points lower on Monday, extending losses recorded in the previous session as market participants monitored a resurgence in global Covid-19 cases due to the fast-spreading omicron variant.
Omicron was still firmly in focus prior to the opening bell on Tuesday, with the variant now being found in at least 43 US states and over 90 countries across the globe.
The World Health Organization warned that omicron was more contagious than any previous variant of Covid-19 on Monday, with it accounting for 73% of new infections in the States last week.
Market participants were also continuing to digest the idea that President Joe Biden's economic agenda might be stalled, with the Senate set to vote on his social safety net and climate policy bill in January, despite Democratic senator Joe Manchin's opposition to it.
Reopening plays like Royal Caribbean, Carnival and Wynn Resorts were trading slightly higher ahead of the bell, while Micron shares surged after the chipmaker posted better than expected quarterly earnings overnight and issued some bullish guidance.
In terms of today's earnings, Apogee and General Mills will report before the open, while BlackBerry will update on recent trading after the close.
No major data points were slated for release on Tuesday.