Futures on the Dow Jones Industrial Average rose 30 points or 0.1%, while S&P 500 futures inched 0.1% higher and Nasdaq 100 futures gained 0.13%.
Brendan McDermid | Reuters
Futures on the Dow Jones Industrial Average rose 20 points or 0.06%, while S&P 500 futures and Nasdaq 100 futures were flat. "I think it's very likely inflation peaked," Guggenheim Partners Global Chief Investment Officer Scott Minerd told CNBC's "Closing Bell: Overtime" on Tuesday. "If it didn't peak in March, we're in the process of peaking."After rallying earlier in the day the major averages closed Tuesday's session in the negative. The Dow Jones Industrial Average fell 87.72 points, or 0.26%, to 34,220.36. The S&P 500 slipped 0.34% to 4,397.
Oil prices jumped as China relaxed some Covid-19 lockdowns which could have hard-hit demand. The international benchmark Brent crude rose 6.26% to $104.64 per barrel, while West Texas Intermediate crude futures jumped 6.69% to $100.60 per barrel. The moves sent energy stocks rising with Marathon Oil and Occidental Petroleum ending the day up 4.2% and 2.1%, respectively.
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