U.S. stock futures rose sharply on Tuesday, as a recovery for global stock markets continued, partly fueled by hopes that central banks will launch more easing. U.S. markets were closed Monday’s for the Presidents Day holiday, but stock futures rallied in a shortened trading session. For Tuesday, Dow Jones Industrial Average futures jumped 268 points, or 1.7% to 16,181, while those for the S&P 500 index gained 31.95 points, or 1.7%, to 1,890.25. Futures for the Nasdaq 100 index rose 87.75 points, or 2.2%, to 4,094.25. In Asia, the Shanghai Composite index jumped 3.2%, led by financials. Crude oil prices surged nearly 5% ahead of a meeting of Russian and Saudi oil ministers, as hopes grew for a potential move on production cuts. Mirroring weakness on Monday, gold prices slid $41.50, or 3.3%, to $1,198.40 as appetite for riskier investments such as stocks grew.
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