U.S. stock futures edged higher on Tuesday after the Dow Jones Industrial Average on Monday posted its best day since March.
Futures for the Dow Jones Industrials progressed 28 points, or 0.1%, to 33,788.
Futures for the S&P 500 moved up 6.75 points to 4,220.50.
Futures for the NASDAQ Composite improved 35.5 points, or 0.3%, to 14,165.50.
The indexes recouped some of last week's steep losses when the Federal Reserve's updated projections on inflation and interest rate hikes sparked a selloff. Commodity stocks like Devon Energy and Occidental Petroleum led the market comeback Monday after being hit hard last week. Norwegian Cruise Line and Boeing stocks climbed more than 3% as the economy continues to reopen.
Alphabet shares traded slightly lower in pre-market trading after the European Commission opened a probe into Google's advertising unit.
There were not many breakout movers in pre-market trading so far Tuesday. Caterpillar and Ford were slightly higher in early trading. Tesla and Pfizer were lower.
Federal Reserve Chairman Jerome Powell will testify before the House of Representatives Tuesday on the central bank's response to the pandemic. His remarks, which were released ahead of the hearing Monday evening, are likely to support the notion that the Fed is ready to soon start discussing removing some of its unprecedented stimulus measures enacted during the pandemic.
On Tuesday morning, the National Association of Realtors will publish existing home sales data for May.
Overseas, in Japan, the Nikkei 225 marched ahead 3.1%, while in Hong Kong, the Hang Seng index sagged 0.6%.
Oil prices doffed 64 cents to $73.02 U.S. a barrel.
Gold prices dipped $3.20 to $1,779.70 U.S.