Stock futures rise slightly after rip-roaring rally leads Dow to record closing high: Live updates

Stock futures exhibited a slight upward trend on Monday night, buoyed by a decline in oil prices and impressive gains in major tech companies. Dow Jones Industrial Average futures surged approximately 0.2%, or 83 points. S&P 500 futures climbed around 0.1%, while Nasdaq-100 futures advanced by 0.2%. On Tuesday, Asia-Pacific markets opened on a higher note, with South Korean equities leading the gains in the region.

The Kospi increased by 1.46%, while the small-cap Kosdaq rose by 3%. Japan's Nikkei 225 saw a 0.7% increase, and the Topix opened marginally above flat. Australia's benchmark S&P/ASX 200 gained 0.15%. Monday saw the major stock averages surge, with the Dow Jones Industrial Average reaching a record high as Amazon surpassed the $3 trillion market cap milestone for the first time.

Nvidia shares, Meta Platforms, Google's parent company Alphabet, and Microsoft also experienced significant gains. Jose Torres, a senior economist at Interactive Brokers, noted that "animal spirits are buoyant to begin the month" following the release of favorable manufacturing and services sector data and strong earnings calls.

Oil prices took a hit on the day, falling by 5.1% to settle at $80.34 per barrel, thanks to President Donald Trump's reversal of plans for further attacks on Iran. Next Tuesday, investors will scrutinize corporate earnings reports from companies like Caterpillar, McDonald's, and chipmaker AMD, as well as release economic data such as June factory orders and international trade figures.

Asian markets were expected to open lower on Tuesday, with Japan's Nikkei 225 and Hong Kong Hang Seng index futures showing a dip compared to the previous day's close.