Markets poised to open higher
U.S. stock futures were moving higher on Tuesday morning as top Ukrainian and Russian diplomats resumed peace talks in Turkey for the first time in two weeks.
Turkish President Recep Tayyip Erdogan opened the face-to-face negotiations by urging for an immediate cease-fire.
In recent days, Ukrainian President Volodymyr Zelensky has expressed his willingness to discuss a neutral status as part of a peace deal with Russia.
On Monday, Russian Foreign Minister Sergey Lavrov said that President Vladimir Putin could meet with Zelensky, but only after the major parts of a potential deal are negotiated.
At around 6:20 a.m. ET, futures for the blue-chip Dow were marked 129 points, or 0.37% higher to 34,982.
S&P 500 futures added 16.5 points, or 0.36% to 4,584.5 while the tech-heavy Nasdaq 100 futures jumped 52 points, or 0.35% to 15,037.25.
Crude futures rise ahead of OPEC+ meeting
In energy markets, crude futures soared early Tuesday as traders digested the resumption of Ukraine-Russia peace talks and a meeting of major oil producers later this week.
The Organization of the Petroleum Exporting Countries and its allies led by Russia, a group known as OPEC+, will meet on Thursday to decide the output levels for production starting in May.
OPEC+ members earlier this month stuck to their initial plan to raise oil output by 400,000 barrels per day in April even as oil prices pushed above $110 per barrel at the time.
Several major oil consumers including the U.S. have urged the oil alliance to increase production.
As of 6:20 a.m. ET, U.S West Texas Intermediate (WTI) crude futures were up $1.59, or 1.5% to $107.55 per barrel. Global Brent crude futures were at $111.56, up $2.07, or 1.89% per barrel.
Micron, RH, Lululemon earnings on tap
Meanwhile, Micron (NASDAQ:MU), RH (NYSE: RH), and Lululemon Athletica (NASDAQ: LULU) are among companies scheduled to release their quarterly financial results after the close today.
Analysts expect chipmaker Micron to post second-quarter earnings of $1.97 per share on revenue of $7.5 billion.
RH is likely to announce earnings of $5.58 per share on revenue of $931.5 million.
Athletic apparel maker Lululemon is seen reporting earnings of $3.28 per share and revenue of $2.13 billion.
