Stock futures were higher Tuesday morning, setting up equities for further record gains, as crude oil slipped after a massive surge.
S&P 500 futures were up 0.22%, Dow Jones Industrial Average futures added 0.26%, and Nasdaq futures rose 0.4%.
Wall Street scored a trifecta of record closes on Monday as a crude oil rally gave stocks an across-the-board boost. The S&P 500, Dow, and Nasdaq each scored their own record close, the first time all have done so on the same day since mid-August. The three had previously closed at records simultaneously back in 1999.
Crude oil prices surged on Monday after Russian President Vladimir Putin suggested a willingness to agree to a production freeze deal with Organization of Petroleum Exporting Countries. OPEC officials are currently meeting in Vienna to discuss terms of a deal. Members will meet again in Vienna on Nov. 30 to vote on the deal. A Nigerian delegate told The Wall Street Journal that members should be on board with the terms "by the end of the day."
Oil prices have fluctuated on renewed hopes for an OPEC deal that would rein in record production from the world's largest oil producers. OPEC aims to limit production to 32.5 million to 33 million barrels a day. The bloc reached a record 33.83 million barrels a day last month.
West Texas Intermediate crude for January was trading at $47.90 a barrel, down 0.7%.
DSW (DSW) increased 4% after lifting its full-year outlook on the back of tighter cost controls and improved sales. The shoe retailer anticipates full-year adjusted profit between $1.35 and $1.45 a share, up from its previous range of $1.32 to $1.42.