U.S. stocks were poised to rebound Tuesday, with futures pointing higher after strong Chinese manufacturing data instilled more confidence in global growth and sent global stock markets higher.
Investors were waiting for the latest on U.S. manufacturing, with purchasing managers' index and ISM data due early in the day.
Futures for the Dow Jones Industrial Average rose 41 points, or 0.2%, to 18,103, while those for the S&P 500 index added 6.15 points, or 0.3%, to 2,126.25. Futures for the Nasdaq 100 index gained 11.75 points, or 0.2%, to 4,808.50.
The gains came after all three benchmarks ended lower on Monday, as a drop in oil prices and uncertainty ahead of the U.S. presidential election next week weighed on investors' minds. The S&P 500 slipped less than 1 point on Monday, while the Dow average fell 18.77 points.
On Tuesday, oil prices were in recovery mode, helping give sentiment about equities a slight boost. Crude oil was up 0.1% at $46.88 a barrel, while Brent added 0.4% to trade at $48.81.
Stock futures were also buoyed by upbeat data from China, where the official manufacturing PMI for October rose to a two-year high of 51.2, from September's 50.4.
"Chinese PMI data for October surprised strongly on the upside, adding to the picture of a global recovery and putting more fuel on the reflation theme," analysts at Danske Bank said in a note.
"The data are positive for risk assets, as they underpin the picture of a global cyclical rebound," they added.