Stock futures rose after major averages fell due to Covid disruptions in China

US stock futures rose on Tuesday morning after major averages came under pressure from the Covid protests in China, and as investors expected more economic data and comments from Federal Reserve leaders this week.

The Dow Jones Industrial Average added 72 points, or 0.21%. S&P 500 and Nasdaq 100 futures rose 0.35% and 0.51%, respectively.

The Dow Jones Industrial Average lost 497.57 points, or 1.45%, during the regular Monday session. The S&P 500 fell 1.54%, while the Nasdaq Composite closed 1.58% lower.

Growing frustration in mainland China over the country’s coronavirus policy has weighed on markets across the world. On Monday, WTI futures fell briefly to their lowest level since last December.

“There are some real reasons to be cautious. The market has rallied a lot this quarter, and there is some concern that things are going to slow, so I think it’s kind of a balanced risk reward,” Adam Parker of Trivariate Research said Monday on CNBC. Bill: Overtime.”

“I think there was perhaps an excuse for some of the slowdown concerns in China for people to collect a little bit of the profit they had in the quarter,” he added.

On the economic front, traders will be watching the September reading of the S&P CoreLogic Case-Shiller Home Price Index due on Tuesday before the bell. The report will give investors an insight into how higher interest rates are affecting the housing market. Home prices in the previous month It jumped about 13% year over year.

Meanwhile, the latest consumer confidence reading is due at 10 a.m. ET. Wall Street is also anticipating the latest corporate earnings results from Hewlett-Packard Corporation Tuesday after the bell.

Federal Reserve Chairman Jerome Powell is scheduled to speak at the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution on Wednesday. Investors will tune in to gain insight into the central bank’s fight against inflation.