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Dow futures climbed 73 points, or about 0.3%. S&P 500 futures were up about 0.3% and Nasdaq futures also rose roughly 0.3%.
Stocks closed in the red on Tuesday as Monday’s oil market collapse weighed on markets and investor sentiment. The Dow (INDU) slid 632 points, or 2.7%. The S&P 500 (SPX) dropped 3.1% and the Nasdaq Composite (COMP) finished down 3.5%. It was the worst day since April 1 for all three benchmarks.
Concerns about oil storage availability amid weaker demand for the commodity has driven prices down. While the May US oil contract, which settled in negative territory Monday, rallied back before expiring, both the June contract and the global benchmark Brent traded lower.
Chipotle (CMG) and Netflix (NFLX) reported first-quarter earnings after the bell on Tuesday. Netflix saw massive subscriber growth, beating its own expectations, with a whopping 16 million subscribers added last month.
Subscriber gains were propelled in part by coronavirus stay-at-home orders and popular Netflix releases such as reality dating show “Love is Blind” and docu-series “Tiger King.”
– CNN’s Anneken Tappe and Frank Pallotta contributed to this report.
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