U.S. shares closed higher on Tuesday as energy stocks rose along with oil prices after Turkey shot down a Russian warplane near the Syrian border.
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Futures on the Dow Jones Industrial Average (DJIA) are almost 117 points below fair value. The Nasdaq Composite ended the day little changed at 5,102.81.
Advancing issues outnumbered declining ones on the NYSE by 1,922 to 1,115, for a 1.72-to-1 ratio on the upside; on the Nasdaq, 1,645 issues rose and 1,148 fell for a 1.43-to-1 ratio favouring advancers.
Global stocks slipped on Monday following a week of gains for most major indexes, with weak commodity prices taking their toll on the energy and mining sectors.
Oil prices gained in the aftermath (http://www.marketwatch.com/story/oil-prices-rise-as-investors-go-bargain-hunting-2015-11-24), up 2.7%, to settle at $42.87 a barrel.
The Stoxx Europe 600 index dropped 1.7% in recent trading, having drifted lower in early trade as reports of the incident filtered through.
In currency markets, the Turkish lira weakened 1 per cent against the U.S. dollar.
Gold prices found some strength, rebounding somewhat from a almost six-year low.
The S&P has slid 0.03 points, or less than 0.1 per cent. Japan’s Nikkei Stock Average rose 0.2% as it reopened after a holiday. The dollar was up 0.3% against the yen at ¥123.16.
Markets remain focused on coming actions from central banks, according to Wouter Sturkenboom, senior investment strategist at Russell Investments. Instead of pulling the markets lower, investors were relieved at the chance to plan ahead after months of not knowing when the central bank will finally make its move.
Investors analyzed data showing that the US economy expanded at a faster pace than initially estimated in the third quarter.
Specifically, the USA economy grew at an upwardly revised 2.1% rate during the third quarter, as expected, sparking rate-hike jitters. The group’s next meeting is on December 4.
On Monday, Fed Chairwoman Janet Yellen said she and her colleagues expect more improvement in the labor market and for inflation to move toward the Fed’s 2% goal.
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Market expectations were further buoyed as San Francisco Fed president John Williams said at the weekend that there is a strong case for the Fed to begin raising short-term interest rates.
