Before Tuesday's trading session began, US benchmark equity indexes demonstrated upward movement, reflecting traders' anticipation for the impending release of a critical labor market report. The Standard & Poor's 500 index experienced an increase of 0.4%, while the Dow Jones Industrial Average rose by 0.3%, and the Nasdaq Composite Index climbed 0.5% during premarket trading.
In international markets, Asian exchanges displayed mixed to lower performance, and European bourses were primarily heading north by midday. Scheduled for release at 10 am ET, the Job Openings and Labor Turnover Survey for January is poised to provide insight into the labor market dynamics. In the previous week, government data revealed that the US economy managed to add 151,000 nonfarm jobs in February, a figure that fell short of Wall Street's forecasts.
Also featured on Tuesday's economic calendar is the National Federation of Independent Business small business optimism index, which indicated a 2.1-point decline in February, bringing the index down to 100.7. Investors are looking forward to the release of last month's consumer price index and producer price index later this week, which are critical for assessing inflation trends. Amidst this backdrop, shares of Tesla exhibited a rebound of 2.8% in pre-bell trading, recovering from a significant 15% drop in the previous session.
Meanwhile, Oracle saw a decline of 1.8%, as the software maker's fiscal third-quarter results missed analyst expectations. In a notable downturn, Delta Air Lines shares fell 11% after the company revised its first-quarter earnings and revenue projections significantly downward. Several companies, including Ferguson Enterprises, Viking Holdings, Dick's Sporting Goods, Ciena, Legend Biotech, Korn Ferry, United Natural Foods, and Kohl's, are set to disclose their latest financial results before the market opens.
Notably, Caseys General Stores is expected to release its earnings after the market closes. Before market opening, bitcoin demonstrated a notable gain of 3.7%, climbing to $81,730. Additionally, West Texas Intermediate crude oil rose by 1.1% to $66.77 a barrel. The yield on 10-year Treasuries ticked up by 0.4 basis points to reach 4.22%, while gold experienced a 0.6% increase, reaching $2,918 an ounce..