Wall Street Set To Open In Positive Territory

(RTTNews) - Amid renewed U.S.-Iran tensions, Iran-backed Houthi group has declared a critical waterway blockade on Saudi shipping on Tuesday. This might impact global energy supply. At the same time there is a hope that the U.S. and Iran will resume peace negotiations.

In the Asian trading session, oil prices were slightly lower, brent crude futures traded half a percent lower near $89 a barrel,

Gold prices jumped more than 1 percent. Spot gold traded 1.4 percent higher at $4,063 an ounce after reclaiming the psychologically important $4,000-an-ounce level on Monday. U.S. gold futures were up 1.3 percent at $4,065.97.

The dollar held near a one-week on Tuesday.

Asian shares finished mostly up, while European shares are trading positive.

As of 7.45 am ET, the Dow futures were up 141.00 points, the S&P 500 futures were adding 33.75 points and the Nasdaq 100 futures were progressing 403.25 points.

The U.S. major averages all finished the day in the red on Monday. The Dow slid 307.16 points or 0.6 percent to 51,839.26, the S&P 500 dipped 14.41 points or 0.2 percent to 7,443.28 and the Nasdaq edged down 12.17 points or 0.1 percent to 25,508.07.

On the economic front, the 4-month, 8-week and 4-week Treasury bill auctions will be held at 11.00 am ET. The six-month treasury bill auctions will be held at 11.30 am ET.

Asian stocks ended mixed on Tuesday. China's Shanghai Composite index jumped 1.79 percent to 3,864.37. Hong Kong's Hang Seng index finished marginally lower at 25,132.29.

Japanese markets rallied, after a long holiday weekend. The Nikkei average soared 3.26 percent to 66,232.19, while the broader Topix index settled 2.44 percent higher at 4,014.95.

Australian markets ended marginally higher. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index slipped 0.29 percent to 13,656.03.