Market Snapshot: Dow resumes record run after taking a breather

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U.S. stock futures on Tuesday pointed to a rise at the open, putting the Dow Jones Industrial Average on track to build on a record-setting run that has left it up 27% over the past year.

What are the main benchmarks doing?

Dow Jones Industrial Average futures YMH8, +0.26% tacked on 50 points, or 0.2%, to 25,300, while S&P 500 futures ESH8, +0.24%  gained 1.70 points, or 0.1%, to 2,748.50. Nasdaq-100 futures NQH8, +0.24% added 8 points, or 0.1%, to 6,696.

On Monday, the Dow DJIA, +0.28%  edged back by less than 0.1% from Friday’s record close, while the S&P 500 SPX, +0.18%  and Nasdaq Composite COMP, +0.02%  both finished at fresh all-time highs.

The three equity benchmarks have gained between 21% and 29% over the past 12 months, supported by factors such an expanding global economy, growth in corporate profits and enthusiasm over the Trump administration’s tax cuts.

What could drive markets?

The upbeat sentiment that has kept the 2017 global stock rally running into the new year still has a grip on the market. Fresh data out Tuesday could give a lift to or dampen that enthusiasm.

A December figure for small-business confidence showed a dip to wrap up the strongest year on record. At 10 a.m. Eastern Time, a November report on job openings and labor turnover is due to arrive.

Check out: MarketWatch’s Economic Calendar

On the Federal Reserve front, Minneapolis Fed President Neel Kashkari is slated to take part in a panel discussion at 10 a.m. Eastern at the suburban Minneapolis headquarters of conglomerate Cargill Inc.

What are strategists saying?

“There is very little for markets to be taking too much notice of in the economic calendar today. The only real interest comes in the U.S. JOLTS jobs openings,” said Richard Perry, a Hantec Markets analyst, in a note Tuesday.

Which stocks look like key movers?

Shares in Target Corp. TGT, +2.80%  jumped 4% in premarket action after the retailer raised its fiscal fourth-quarter profit outlook, citing stronger-than-expected holiday sales.

Alibaba Group Holding Ltd.’s stock BABA, -0.52%  traded 0.5% higher premarket after the Chinese e-commerce giant’s founder, Jack Ma, promised to consider listing in Hong Kong.

Shares in Intel Corp. INTC, -0.27%  dipped 0.3% in premarket trading after CEO Brian Krzanich delivered a speech at CES late Monday. He detailed advances in virtual reality and other technologies, while also addressing the dark cloud hanging over chip makers.

Supermarket operator Supervalu Inc. SVU, -0.71%  could see active trading as it’s among the companies expected to post earnings before the open.

What are other assets doing?

European stocks SXXP, +0.41% were gaining ground, and most Asian markets closed higher. Oil futures CLG8, +0.66%  added to their recent advance, but gold futures GCG8, -0.70%  were pulling back. The ICE U.S. Dollar Index DXY, +0.23% was modestly higher.