Wall Street was higher in early trading Tuesday, with earnings and economic data releases sparse during the holiday-shortened week.
Dow futures were up 0.2% before the bell on Tuesday, while S&P 500 futures were up 0.4%.
Besides some notable corporate earnings reports, investors will focus on the latest indicators on U.S. consumer confidence on Tuesday, followed by inflation indicators that Federal Reserve officials are watching on Friday. Consumer spending reports will be released, including:
Most analysts, which held their fifth straight meeting last week, are still betting the Fed will cut rates three times this year as long as inflation remains moderate.
Despite a series of recent reports showing that inflation is still higher than expected, the Fed appears to expect inflation to continue its downward trend over the long term.
Economists expect inflation, as measured by personal consumption expenditures (PCE), to rise slightly in February.
UPS rose about 2% in the premarket session after the package delivery company announced an outlook that pleased investors. Ahead of Tuesday's investor conference, Atlanta-based UPS projected 2026 sales of $108 billion to $114 billion.
Krispy Kreme soared more than 20% after the donut chain announced an expanded partnership with McDonald's. Krispy Kreme donuts are expected to be on shelves at some McDonald's stores as early as the second half of this year, and nationwide by the end of 2026.
Late Tuesday, video game retailer Original Meme stock GameStop reported earnings. Cruise ship operator Carnival reported earnings on Wednesday, followed by drugstore chain Walgreens on Thursday. US markets are closed for Good Friday.
In Europe, France's CAC40 index was up nearly 0.3% as of midday, while Germany's DAX index was up 0.7% and Britain's FTSE 100 index was up just 0.1%.
In Asia, Japan's benchmark Nikkei 225, whose computer chip-related issues had captured investors' attention early on, reversed course and ended little changed, down less than 0.1% at 40,398.03. .
Australia's S&P/ASX 200 index fell 0.4% to 7,780.20. South Korea's Kospi rose 0.7% to 2,757.09. Hong Kong's Hang Seng rose 0.9% to 16,618.32 and the Shanghai Composite rose 0.2% to 3,031.48.
Analysts note that a variety of global uncertainties, including in the Middle East and Russia, will impact energy prices and investor sentiment.
The attack on a concert hall in Moscow late last week was claimed by Islamic State. Gaza has been in the spotlight since the United Nations Security Council issued its first call for a ceasefire. The US abstained, angering Israel.
“There is still the possibility of a sharp rise in oil prices due to geopolitical tensions,” said Tan Jingyi of Mizuho Bank.
So far, energy markets have remained stable, with U.S. crude oil up 11 cents to $82.06 a barrel. Brent crude, the international standard, added 5 cents to $86.13 per barrel.
In currency trading, the dollar rose slightly from 151.41 yen to 151.44 yen. The euro rose to $1.0854 from $1.0840.
