NEW YORK: Wall Street was on track to open higher on Tuesday, recovering from a technology stocks-driven selloff a day earlier that pushed the Dow and the S&P 500 below important technical levels amid renewed global trade concerns.
Facebook, Amazon and Netflix Alphabet rose in premarket trading.
Monday's slide also saw the three main US indexes erasing their gains for the year and the S&P 500 closing below its 200-day moving average for the first time since Britain's vote to leave the European Union in June 2016.
If current gains hold, the S&P 500 would open at 2,594.25, above its 200-day moving average.
"What's going on with the trade policy is a real concern for investors," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.
"It goes back and forth almost everyday and when you back away from the paradigm of free trade, then the markets move unfavorably."
China on Sunday decided to impose extra tariffs on 128 US products, deepening a dispute between the world's two biggest economies, in retaliation to US President Donald Trump's decision to impose tariffs on steel and aluminum.
The Trump administration is expected sometime this week to publish a list of Chinese goods that could be subjected to new US tariffs.
At 8:33 a.m. ET, Dow e-minis were up 154 points, or 0.65 percent, with 48,393 contracts changing hands.
S&P 500 e-minis were up 17.75 points, or 0.69 percent, with 205,541 contracts traded.
Nasdaq 100 e-minis were up 61.25 points, or 0.96 percent, on volume of 65,284 contracts.
Amazon.com Inc rose 1 percent premarket, after closing down more than 5 percent on Monday after Trump's latest attack on the online retailer.
"You're still going to see negative attitude (in tech sector), but at some point you have to return to fundamentals and we're still looking at a pretty good earnings growth," said Brown.
Investors will be able to buy and sell shares in the Swedish music streaming service Spotify in the New York Stock Exchange's first-ever direct floor listing.
Tesla shares rose 2.6 percent after the electric car maker said that it built 2,020 Model 3 sedans in the last seven days of March, would produce the same number next week and would see output climb rapidly through the second quarter.
Viacom Inc fell 5.4 percent after Reuters reported CBS Corp planned to make an all-stock offer that valued the media company below its current market valuation. CBS shares rose 2.5 percent.
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