Federal Chair Jerome Powell’s testimony before the Congress on the central bank’s pandemic response on Tuesday morning is likely to get much attention. The National Association of Realtors report on existing home sales also will be a focus on the day.

Asian shares finished higher, while European shares are trading positive.

As of 7.25 am ET, the Dow futures were adding 11.00 points, the S&P 500 futures were up 4.00 points and the Nasdaq 100 futures were gaining 31.75 points.

The U.S. major averages closed higher on Monday. The Dow spiked 586.89 points or 1.8 percent to 33,876.97, the Nasdaq advanced 111.10 points or 0.8 percent to 14,141.48 and the S&P 500 jumped 58.34 points or 1.4 percent to 4,224.79.

On the economic front, the Redbook data for the week will be issued at 8.55 am ET. In the prior week, the Store Sales were up 16.4 percent.

The National Association of Realtors Existing Home Sales for May will be released at 10.00 am ET. The consensus is for 5.715 million, while it was 5.850 million in the prior month.

Federal Reserve Bank of Richmond’s Manufacturing Index for June will be published at 10.00 am ET. The consensus is for 17, while it was up 18 in the prior month.

Two-year Treasury Note Auction will be held at 1.00 pm ET.

The Fed Money Supply for May will be released at 1.00 pm ET. In the prior month the M2 change was $195.9 billion.

Asian stocks advanced on Tuesday. Chinese shares ended notably higher. The benchmark Shanghai Composite index finished 28.23 points, or 0.80 percent, to 3,557.41. Hong Kong’s Hang Seng index dropped 179.24 points, or 0.63 percent, to 28,309.76.

Japanese shares posted strong gains. The Nikkei average jumped 873.20 points, or 3.12 percent, to 28,884.13. The broader Topix index closed 3.2 percent higher at 1,959.53.

Australian markets rallied. The benchmark S&P/ASX 200 index climbed 106.90 points, or 1.48 percent, to 7,342.20 while the broader All Ordinaries index ended up 107.50 points, or 1.44 percent, at 7,592.70.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 14.10 points or 0.21 percent. The German DAX is adding 19.03 points or 0.12 percent, the U.K. FTSE 100 Index is gaining 27.67 points or 0.39 percent.

The Swiss Market Index is down 11.01 points or 0.09 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.20 percent.

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