Following a significant increase in the major indexes during the previous session, S&P futures saw a little increase on Tuesday, with tech shares leading the gains. Nasdaq-100 futures increased by 0.7%, as Palantir Technologies surged over 16% in premarket trading following impressive second-quarter results. Other technology companies experienced an upward movement alongside Palantir. Micron experienced a 3% increase, whereas Marvell saw a 7% rise. Futures for the Dow Jones Industrial Average increased by 201 points, representing a 0.5% rise, primarily driven by a 6% surge in Caterpillar shares following the company’s announcement of stronger-than-anticipated Q2 results. S&P 500 futures increased by 0.2%.

Investors are paying keen attention to SpaceX, which is poised to announce its inaugural quarterly earnings as a publicly traded entity in the near future. The rocket company’s share price increased by 0.8% prior to the market opening. The major stock averages surged in Monday’s session, with the Dow closing at a record high, as Amazon eclipsed $3 trillion in market cap for the first time. Nvidia shares experienced a significant increase, paralleling the upward movement of Meta Platforms. Google parent Alphabet and Microsoft experienced notable increases during the day.

“Animal spirits are buoyant to begin the month,” said Jose Torres, senior economist at Interactive Brokers. He noted that the latest manufacturing and services sector data released Monday and “recent earnings calls boost confidence that capital return prospects could impress amid valuations that have become substantially cheaper during the deep tech selloff.” Oil prices experienced an upward movement on Tuesday, with West Texas Intermediate futures increasing by 1.8% to $81.82, while Brent crude, the international benchmark, saw a rise of 2.3%, reaching $85.74. The forthcoming economic data release encompasses June factory orders alongside international trade figures for the same month.

In Europe, the Stoxx 600 experienced a gain of 0.46% during morning trading, with the Italian FTSE MIB at the forefront of this increase, rising by 1.1%. Germany’s DAX increased by 0.63%, while the U.K.’s FTSE 100 also saw gains; however, in France, the CAC 40 experienced a decline, dipping just below the flatline. In Asia, South Korea’s Kospi rose 1.62%, while the small-cap Kosdaq Index jumped 5.8%. Japan’s Nikkei 225 experienced an increase of 0.32%, while the Topix remained relatively stable at 3,961.78. Mainland China’s CSI 300 increased by over 1%, whereas Hong Kong’s Hang Seng experienced a rise of 0.21%.