Peter Nurse   

Investing.com – U.S. stocks are seen posting small gains at the open, recovering from the previous session’s tech-led selloff, helped by Facebook (NASDAQ:) bouncing after its prolonged outage.

The contract traded at 7:05 am ET (1105 GMT) and was up 115 point, or 0.4%. It also increased 15 points or 0.4% while climbing 60 points or 0.4%.

On Monday, major indices fell sharply due to rising U.S. Treasury yields. Tech heavyweights Alphabet, Apple, Amazon, and Microsoft all saw their shares drop below 2%. This pushed the 2.1% down. Blue-chip lost more than 300 points (or 0.9%), while broad-based fell 1.3%.

The hope that the Delta-variant Covid-19 wave will bring more economic growth has helped to set the tone. Global cases hit their lowest in nearly two months on Monday, according to Johns Hopkins data, while Merck (NYSE:) has received optimistic results for its oral treatment and Johnson & Johnson (NYSE:) has filed for authorisation for its vaccine booster.

Investors are still cautious, however. President Joe Biden has warned the U.S. that they could breach the limit of their debt. As a possible default draws closer and as the U.S. Federal Reserve begins to reduce its enormous bond-buying programs, Biden said.

PepsiCo (NASDAQ 🙂 is the latest corporate news. The soft drink giant has increased its full-year revenues forecast. This was due to the ease of pandemic restrictions increasing demand for theaters and restaurants.

Facebook (NASDAQ:) stock traded higher premarket, rebounding from Monday’s near 5% drop after a six-hour global outage, while Tesla (NASDAQ:) faces a $130 million payout after the Wall Street Journal reported that a federal court found a black former worker was subjected to a racially hostile work environment.

The economic data slate centers around activity in the services sector, with the index, at 10 AM ET (1400 GMT), expected to have fallen to 60 in September from August’s 61.7. 

Crude oil prices pushed higher on Tuesday following the decision of the Organization of the Petroleum Exporting Countries, along with its allies, led by Russia (known as OPEC+), to keep increasing production slowly.

The decision was made despite consumer requests, such as from India and the U.S., for increased supply to reduce prices after the Covid-19 disaster.

Investors are now awaiting oil supply data from the, which is due to be released later today.

U.S. crude oil futures were 0.8% higher at $78.20 per barrel by 7:05 am ET. The contract rose 1.1% to $82.07. WTI reached a seven year high while Brent attained a three-year record.

The price of gold fell 0.7% to $1756.05/oz while it traded 0.2% higher at 1.1599