Stock-index futures pointed to a higher start on Tuesday, with the Dow Jones Industrial Average looking to extend its winning streak to seven days, after Chinese authorities appeared to back new measures to support the economy.

Dow futures YMM19, +0.43%  rose 122 points, or 0.5%, to 26,208, while S&P 500 futures ESM19, +0.44%  were up 13.8 points, or 0.5%, at 2,903. Nasdaq-100 futures NQM19, +0.62% gained 48.5 points, or 0.6%, to 7,564.

On Monday, the Dow DJIA, +0.30%  rose 78.74 points, or 0.3% to end at 26,062.68. The blue-chip gauge’s six-day winning streak is the longest since an eight-day run that ended on May 14, 2018, according to Dow Jones Market Data.

The S&P 500 SPX, +0.47%  rose 13.39 points, or 0.5%, to close at 2,886.73 on Monday, while the Nasdaq Composite COMP, +1.05%  advanced 81.07 points, or 1.1%, to finish at 7,823.17.

What’s driving the market?

Wall Street appeared poised to join a global equity surge that analysts attributed to a decision by Chinese authorities to back special-purpose bond issuances by local governments. The move is an effort to accelerate financing of major projects through the bond issuances, which are used largely for infrastructure investment, the People’s Bank of China said in a joint statement with other government agencies, The Wall Street Journal (paywall) reported.

Investors, meanwhile, appeared to ignore a continued rumble of hostile rhetoric from the U.S. and China over trade. China’s foreign ministry on Tuesday said it would respond firmly if the U.S. insisted on escalating trade tensions, Reuters reported, after U.S. President Donald Trump on Monday said further tariffs on Chinese imports would take effect if the two countries don’t reach a deal at a meeting of Group of 20 leaders later this month.

Chinese officials, however have not confirmed that President Xi will meet with president Trump at the meeting, to be held June 28-29. President Trump said Monday that if Xi doesn’t meet with him, additional tariffs will be placed on Chinese goods. U.S. Commerce Secretary Wilbur Ross said in an interview on CNBC Tuesday morning that he believes a deal will ultimately be reached, but cautioned investors not to expect a quick resolution.

What’s on the economic calendar?

The National Federation of Independent Business said its Small Business Optimism Index posted a May reading of 105, up 1.5 points from April. Six components of the index rose, three were unchanged and one declined.

The May producer-price index is due at 8:30 a.m. Eastern.

What are analysts saying?

“Yesterday’s global equity market rally has continued into Tuesday, thanks to Asian stocks being led higher by the prospect of new government stimulus in China,” said Russ Mould, investment director at AJ Bell, in a note.

What stocks are in focus?

Private-equity giant Apollo Global Management LLC APO, +0.64%   will acquire the online photo sharing company Shutterfly Inc. SFLY, +2.66%   in an all cash deal worth $51 per share, valuing the company at $2.1 billion. Shutterfly stock closed at $50.25 per share, and has fallen 0.4% in premarket action Tuesday.

Shares of CVS Health Corp. CVS, +2.06%   could be in focus Tuesday, after the New York Post reported that a federal judge appears to be nearing a surprise move to block CVS’ $69 billion acquisition of Aetna, completed last year. The stock fell 1% before the start of trade Tuesday.

Shares of H&R Block Inc. HRB, -0.99%   rose 2.1% in premarket action Tuesday, ahead of the tax-preparation company’s fiscal fourth-quarter earnings results.

Broadcom Inc. AVGO, +1.94%   disclosed a two-year deal with Apple Inc. AAPL, +1.28%   to provide components, Monday evening. The stock rose 2.9% before the start of trade.

How are other markets trading?

Stocks in Asia were in rally mode Tuesday, with China’s Shanghai Composite index surging 2.6%, Hong Kong’s Hang Seng index adding 0.8% and Japan’s Nikkei 225 rising 0.3%. European markets were also rising on the hope of Chinese stimulus; the Stoxx Europe 600 has added 0.8%.

In commodities markets, crude oil CLN19, +0.94%   was staging a rebound on Tuesday, while the price of gold GCN19, -0.31%   was in retreat. The U.S. dollar DXY, +0.07%   , meanwhile, was virtually unchanged.