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FINWIRES

Persian Gulf Outlook Undergirds Wall Street Pre-Bell; Asia, Europe Up

-- Wall Street futures pointed moderately higher pre-bell Tuesday after President Donald Trump indicated Tehran-Washington peace talks might resume and as US Navy vessels patrolled the Strait of Hormuz without incident.

In the futures, the S&P 500 gained 0.1%, the Nasdaq edged 0.3% higher and the Dow Jones was steady.

Prices for West Texas Intermediate crude oil declined further under $100 a barrel, to $97.48, in morning hours.

Traders also await the producer price index bulletin for March from Washington at 8:30 am ET, considered one precursor to inflation in the broader economy.

On the earnings front, JPMorgan Chase (JPM) shares were down 2.4% pre-bell even after the company reported higher Q1 earnings and revenue.

Johnson & Johnson (JNJ) stock was marginally lower pre-bell after the company posted lower Q1 adjusted earnings.

Wells Fargo (WFC) shares were down 2.8% pre-bell after the company reported higher Q1 earnings but revenue for the quarter trailed analyst estimates.

Asian exchanges traded solidly higher overnight, led by a 2.7% rise on Seoul's KOSPI index. European bourses tracked moderately north midday on the continent.

In economic news, the National Federation of Independent Business's monthly Small Business Optimism Index fell to a reading of 95.8 in March from 98.8 in February and 97.4 in March 2025, hitting its lowest point since April 2025.

Federal Reserve Chicago President Austan Goolsbee and Governor Michael Barr are slated to speak on Tuesday.

In premarket activity, Bitcoin traded at $74,607, and 10-year US Treasuries offered 4.29%. Spot gold commanded $4,776 an ounce.

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