Dow futures trade higher as U.S. stocks start 2023 on a bullish note

U.S. stock index futures rose Tuesday as investors returned from the festive break in a generally bullish mood, even as earlier premarket gains narrowed.On Friday, the Dow Jones Industrial Average DJIA, -0.22% fell 74 points, or 0.22%, to 33147, the S&P 500 SPX, -0.25% declined 10 points, or 0.25%, to 3840, and the Nasdaq Composite COMP, -0.11% dropped 12 points, or 0.11%, to 10466. The Nasdaq Composite fell 33.1% in 2022, the largest one year percentage decline since 2008.

“The calendar year may have changed, but the themes remain the same as the U.S. and U.K. markets reopen for 2023,” said Richard Hunter, head of markets at Interactive Investor. In addition, a burst of fresh strength in the U.S. dollar DXY, +1.03% on Tuesday – a common reaction to global economic slowdown worries – was likely to further crimp earnings of U.S. multinationals.

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