NEW YORK (CNNMoney.com) -- U.S. stocks were poised for a rosy start Tuesday, as investors returning from the holiday weekend eyed buying opportunities and a rally in overseas markets.
Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq futures were all up about 1% ahead of the opening bell.
Futures measure current index values against perceived future performance.
Economic woes have pummeled stocks in recent months. But with the S&P 500 and Nasdaq nearly 20% off their recent highs, investors appear ready to wade back into the market.
Tuesday is the start of a holiday-shortened week since U.S. financial markets were closed Monday in celebration of Independence Day.
"We're seeing a rally off the strength in European markets today," said David Jones, chief market strategist at IG Markets. "But overall the market is still nervous, and all of last week there were ongoing concerns about how strong the recovery was."
"So even though we're seeing strength right now, we may see it start to run out of steam as the week goes on and investors turn back to worries about growth," he added.
World markets: Stocks around the world rose. In the early going in Europe, the FTSE 100 in Britain, Germany's DAX and France's CAC 40 all rallied more than 2%.
In Asia, the Shanghai Composite soared 1.9%. Hong Kong's Hang Seng index finished the session 1.2% higher and Japan's Nikkei added 0.8%.
Economy: The Institute for Supply Management's services sector index is due to be released at 10 a.m. ET. The index is forecast to have fallen to 55 in June from 55.4 in May. Any reading above 50 indicates expansion in the sector.
Dollar and commodities: The dollar was lower against the euro and the British pound, but up versus the Japanese yen.
U.S. light crude oil for August delivery climbed 77 cents to $72.91 a barrel.
COMEX gold's August contract edged down 40 cents to $1,207.30 per ounce.
Bonds: Treasury prices rose, pushing the yield on the 10-year note down to 2.97% from 2.98% late Friday. Bond prices and yields move in opposite directions. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.88% | |
| 15 yr fixed | 3.20% | 3.23% | |
| 5/1 ARM | 3.84% | 3.88% | |
| 30 yr refi | 3.82% | 3.93% | |
| 15 yr refi | 3.20% | 3.23% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
| S&P 500 | 3,913.10 | -2.36 | -0.06% |
| Treasuries | 1.73 | 0.00 | 0.12% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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