US News: U.S. stock futures rose modestly in early trading Tuesday, signaling that Wall Street is poised to recover from a sharp pullback that ended a five session winning streak for the major indexes and triggered the steepest one day drop in Bitcoin since March.
As of 6:45 a.m. ET, Dow Jones Industrial Average futures were up 68 points, or 0.14 percent, while S&P 500 futures gained 0.3 percent and Nasdaq 100 futures advanced 0.4 percent. The calmer tone follows a broad decline on Monday when the Dow, S&P 500, and Nasdaq all closed lower amid renewed concerns over elevated valuations and persistent inflation pressures.
Cryptocurrency markets are also showing signs of stabilization. After plunging to an intraday low near $84,000 on Monday, Bitcoin has reclaimed the $87,000 level in early Tuesday trading. Shares of crypto related companies, including Coinbase and Robinhood, which both fell more than 4 percent in the prior session, are posting gains in premarket action.
Market sentiment has received a lift from rising expectations for a Federal Reserve interest rate cut at the December meeting. According to the CME FedWatch Tool, the probability of a quarter point reduction now stands at 87 percent, up sharply from levels seen just two weeks ago. The increased odds come despite delayed government data releases and fresh evidence that new tariffs are weighing on domestic manufacturing activity.
With no major economic reports scheduled for Tuesday, attention will turn to corporate earnings. Cybersecurity firms CrowdStrike and Okta are set to report after the close, while chipmaker Marvell Technology is drawing early interest following reports of a potential multibillion dollar acquisition of AI focused startup Celestial AI.
In after hours trading Monday, MongoDB shares rose more than 2 percent after the company posted third quarter revenue of $628.3 million, a 19 percent increase from the same period last year and well above its own guidance range. The database software provider also narrowed its quarterly loss to just $0.02 per share and raised its full year revenue outlook to between $2.434 billion and $2.439 billion.
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Overseas, Asian equities closed higher overnight, brushing off the weakness on Wall Street as global bond yields continued to edge up. The regional resilience has helped bolster confidence that the current U.S. pullback may prove short lived as the final month of 2025 trading begins.
Investors now await the opening bell to see whether the early premarket gains can hold and set the stage for a year end rebound, or whether lingering uncertainty around monetary policy and trade will cap the upside once regular trading resumes.
