US stock futures edged higher on Tuesday after Wall Street rallied sharply in the previous session, supported by lower oil prices and strong gains in major technology stocks. Dow Jones Industrial Average futures rose 0.2% (124 points), while S&P 500 futures gained 0.2% and Nasdaq-100 futures advanced 0.3%.

The gains followed a strong Monday session in which the Dow Jones closed at a record high. Technology stocks led the rally, with Amazon surpassing a $3 trillion market capitalisation for the first time, while Nvidia, Meta, Alphabet and Microsoft all posted solid gains. Investors were encouraged by resilient manufacturing and services data, as well as earnings commentary that strengthened confidence in corporate profitability despite the recent pullback in AI-related stocks.

Oil prices also boosted market sentiment after WTI crude fell 5.1% to settle at $80.34 per barrel, following comments from President Donald Trump indicating that additional military action against Iran would not proceed. The decline in oil prices eased inflation concerns and supported broader gains across equity markets.

Asian markets traded mixed on Tuesday. South Korea's Kospi fell 0.37%, while the Kosdaq surged more than 5%. Japan's Nikkei 225 slipped 0.24% and the Topix lost 0.25%. Australia's S&P/ASX 200 climbed 1.2%, mainland China's CSI 300 gained 1.2%, while Hong Kong's Hang Seng Index declined 0.7%.

Investors are now focused on another busy day of earnings, with Caterpillar, McDonald's and AMD among the major companies reporting results. Markets will also monitor June factory orders and US international trade data, which could provide fresh insight into the strength of the economy and influence expectations for the Federal Reserve's policy outlook.

Disclaimer: The information contained herein (1) is proprietary to BCR and/or its content providers; (2) may not be copied or distributed; (3) is not warranted to be accurate, complete or timely; and, (4) does not constitute advice or a recommendation by BCR or its content providers in respect of the investment in financial instruments. Neither BCR or its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.