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U.S. stock indexes were ready to test fresh records on Tuesday, with the focus set to shift to technology and Apple, ahead of an event expected to deliver a fresh update to its coveted gadget lineup.
Dow Jones Industrial Average futures YMZ7, +0.23% rose 60 points, or 0.3%, 22,077, while S&P 500 futures ESZ7, +0.11% added 4.70 points, or 0.2%, to 2,490.50. Nasdaq-100 futures NQZ7, +0.16% moved up 16.25 points, or 0.3%, to 6,007.
On Monday, the S&P 500 and the Dow industrials logged their biggest one-day percentage gains in months. The S&P 500 SPX, +1.08% finished up 1.1% to reach an all-time high of 2,488.11, while the Dow DJIA, +1.19% retook a key level, closing up 1.2% at 22,058.37.
At the same time, the Nasdaq Composite Index COMP, +1.13% climbed 1.1%. Stocks rallied after Hurricane Irma caused less damage than expected, and as tensions around North Korea eased.
Apple Inc. AAPL, +1.81% which is holding an event later Tuesday, rose 1% in premarket, after Monday’s 1.8% gain. Investors expect the iPhone maker to reveal its 10th anniversary mobile phone, which reportedly has a price tag of around $1,000. The Cupertino, Calif.-based company’s keynote presentation is slated to commence at 1 p.m. Eastern.
“Today’s focus will all be on technological stocks, as Apple is set to unveil its newest iPhone, entitled iPhone X, which will feature facial recognition as well many new aesthetics and new improvements to the already existing features it has,” said Hassan Kanaan, senior research associate at Royal Financial/RFXT in Beirut, in a note to clients.
Economic data on tap for Tuesday is headlined by a reading on job openings for July, scheduled for release at 10 a.m. Eastern. Data earlier showed sentiment among small-business owners ticked up in August.
Moving stocks: Shares of Teva Pharmaceuticals Industries Ltd. TEVA, +19.35% rose nearly 9% in premarket after Israeli-based pharmaceutical group said late Monday it will sell its Pargard IUD product to Cooper Cos. COO, +0.76% for $1.1 billion in cash.
Equifax Inc. EFX, -8.20% shares fell 1% in premarket. Standard & Poor’s announced late Monday a downgrade of its outlook on the credit-reporting agency to negative from stable in the wake of a recent breach that put the data of 143 million Americans at risk. Equifax shares fell 8.2% on Monday.
Other markets: Asian markets ADOW, +0.19% saw tepid gains, outside of a 1.2% rally for the Nikkei NIK, +1.18% which hit its best intraday level in a month as the yen USDJPY, +0.53% continued to fall against the dollar. The dollar index DXY, +0.13% meanwhile, was modestly higher, marked by that stronger dollar/yen cross.