US markets today: Dow, S&P 500, Nasdaq futures indicate gap-up open; AMD, Alphabet, Constellation Energy, others to watch

US equity market futures indicate a positive opening on Tuesday, October 6, as investors focused on the pullback in crude oil prices to near $97 per barrel (bbl), easing treasury yields, and momentum from the Asian markets.

Data showed that the Dow Jones futures were trading around 0.62% higher at 51,875 points ahead of the opening bell on Wall Street as equity investors focused on the continued momentum in the market ahead of US Federal Reserve’s minutes of the meeting release.

The S&P 500 futures were up 0.47% at 7,863 points, while the tech-heavy Nasdaq 100 index futures were trading 0.62% higher at 31,515.75 points ahead of the US equity market opening bell.

Key things to watch before US market open

US stocks to watch on October 6

Asian markets today

Asian equity market indices ended higher after their trading session on Tuesday, October 6, as investors focused on the spillover effect from Wall Street gains, and a pullback in global oil prices and bond yields.

MarketWatch data showed that Nikkei 225 closed 1.05% higher, Hang Seng ended 1% higher, China’s Shanghai Composite closed 0.31%, India’s SENSEX closed 0.95%, and Singapore’s FTSE closed 0.66% higher after the trading session on October 6.

Oil drops 2.7%

Global crude oil prices declined 2.7% to touch an intraday low of $97.58 per barrel (bbl) on Tuesday, October 6, as commodity market investors focused on easing supply disruption fears in the market amid the continued diplomatic standoff between the United States and Iran.

As of 7:43 pm (IST), the Brent crude oil prices were trading 2.7% lower at $97.63 per bbl on Tuesday’s market, in comparison to $100.32 per bbl at the previous commodity market close, according to Investing.com data.

Along with the improving sentiment in the market, the G7 countries have also pledged to release 100 million barrels of oil from their emergency reserves and pledge to refrain from imposing any export restrictions.

According to a latest Reuters report, Saudi Arabia unexpectedly cut its oil prices for Asia in November to a six-year low while increasing prices for Northwest Europe and the Mediterranean region.

Pullback in US Treasury yields

US Treasury yields witnessed a marginal pullback from their multi-decade high levels during the trading session on October 6, as investors focused on crude oil’s decline ahead of US Federal Reserve’s minutes of the meeting release.

Data showed that the benchmark 10-year US Treasury yields declined 5 basis points to 5.26% on Tuesday, in comparison to 5.31% in the previous market close.

How did US markets close on Monday?

The US equity market indices closed higher after the trading session on Monday, October 5, as investors focused on the tech sector momentum, positive earnings outlook and a pullback in the benchmark US Treasury yields and oil prices.

MarketWatch data showed that the Dow Jones Industrial Average ended 0.18% higher at 51,267.90 points after Monday’s trading session, compared to 51,176.96 points at the previous equity market close.

The S&P 500 index closed 0.66% higher at 7,773.95 points after the trading session on October 5, in comparison to 7,722.72 points at the previous US equity market close.

As per the exchange data, the tech-heavy Nasdaq 100 index closed 0.87% higher at 31,076.44 points after the trading session on Monday, in contrast to 30,807.93 points at the previous Wall Street close.