U.S. stock index futures trended higher on Tuesday, as investors were optimistic about the economy achieving a goldilocks "soft landing" scenario, while also cheering a bumper stimulus package out of China.

Market Snapshot

At 7:50 a.m. ET, Dow E-minis were up 64 points, or 0.15%, S&P 500 E-minis were up 6 points, or 0.10% and Nasdaq 100 E-minis were up 35 points, or 0.17%.

Pre-Market Movers

Chinese ADRs - Chinese ADRs jumped after China ’ s central bank lowered interest rates and the governmentadded stimulusdesigned to bolster the stock market. Alibaba rose 5.4%; PDD Holdings rose 4.5%; JD.com rose 7.6%; NetEase rose 5.8%; Baidu rose 4.2%; NIO rose 7.3%; Li Auto rose 7.8%; XPeng rose 7.3%; Bilibili rose 7%; Tencent Music rose 5.6%; KE Holdings rose 7.9%.

Tesla - Tesla was up 1.7% in premarket trading after shares of the electric-vehicle maker rose 4.9% on Monday, ended the session as the S&P 500 ’ s best performer, and turned positive for the year. Driving the gains Monday was a bullish report from analysts at Barclays which estimated third-quarter deliveries at about 470,000 vehicles, higher than consensus forecasts of roughly 460,000.

Visa - Visa declined 2% after reports said the U.S. Justice Department ’ s antitrust division could file a lawsuit as soon as Tuesday accusing the payments giant of illegally monopolizing the U.S. debit card market. The government is expected to file the case in federal court, according to Bloomberg. The New York Times reported the Justice Department plans to argue that Visa penalizes its customers when they try to use competing services to process payments.

Snowflake - Snowflake fell 3% after the cloud data-warehouse software announced a proposed private placement of $2 billion of   convertible senior notes.

Salesforce - Salesforce was up 2.1% to $269.63 after the stock was raised to Overweight from Neutral by Piper Sandler and the price target on shares of the enterprise software company was boosted to $325 from $268.

Snap - Snap will start using Google ’ s generative artificial intelligence model to help power Snapchat ’ s AI chatbot, part of a broader plan to boost engagement and increase user time spent on the messaging app. The shares gained 1.7%.

AAR Corp - AAR Corp., a provider of aviation services, reported fiscal first-quarter adjusted earnings of 85 cents a share, up from 78 cents a year earlier. Sales in the period rose 20% to $661.7 million. AAR said sales to commercial customers and to government customers in the first quarter both increased 20% from a year earlier. Shares rose 4.7%.

AutoZone - AutoZone was falling 2.6% after the auto-parts retailer posted fiscal fourth-quarter earnings and sales that missed analysts ’ estimates.

Liberty Broadband - Liberty Broadband shares jumped early Tuesday after it said it had submitted a counterproposal to Charter Communications for combining the two businesses. The stock rose 20% in premarket trading.

Market News

China Unleashes Stimulus Package to Revive Economy, Markets

China ’ s central bank unveiled a broad package of monetary stimulus measures to revive the world ’ s second-largest economy.

People ’ s Bank of China governor Pan Gongsheng cut a short-term key interest rate and announced plans to reduce the amount of money banks must hold in reserve to the lowest level since at least 2018 at a rare briefing alongside two of the country ’ s other top financial regulators in Beijing. That marked the first time reductions to both measures were revealed on the same day since at least 2015.

Those moves were followed by a slew of other announcements that fueled gains in Chinese stocks. The central bank chief also unveiled a package to shore up the nation ’ s troubled property sector, including lowering borrowing costs on as much as $5.3 trillion in mortgages and easing rules for second-home purchases.

For the nation ’ s beleaguered equity market, Pan said the central bank will provide at least 800 billion yuan ( $113 billion ) of liquidity support, adding that officials were studying setting up a stock stabilization fund.

Visa Faces Justice Department Antitrust Case on Debit Cards

The US Justice Department plans to allege that Visa Inc. illegally monopolized the US debit card market, according to people familiar with the matter.

The antitrust division is set to file a lawsuit as soon as Tuesday accusing the operator of the largest US payments network of a range of anticompetitive conduct, said the people, who asked not to be identified discussing the case. The government is expected to file the case in federal court.

Antitrust enforcers are preparing to accuse Visa of taking steps to keep rivals from challenging its dominance in the debit card market, said the people. The government ’ s allegations include that Visa made exclusive agreements to hinder the expansion of competing networks and thwarted efforts by technology companies to enter the market.