Stocks: 4 things to know before the open

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Stock markets shot higher on Monday and the momentum has continued into Tuesday.

Here are the four things you need to know before the opening bell rings in New York:

1. Stock market overview: U.S. stock futures are pushing up, European markets are rising in early trading and most Asian markets ended with gains.

This follows a mini-rally Monday in the U.S. The Dow Jones industrial average and S&P 500 each jumped 1%, while the Nasdaq rose 1.2%.

Related: Fear & Greed Index

2. Crude creeps up: Oil futures continue to regain lost ground and are now trading at their highest levels in more than seven months.

Prices fell to just above $26 a barrel in mid-February -- the lowest since 2003 -- before rebounding.

Crude oil is now trading around $48 per barrel.

Related: Goldman Sachs calls end to cheap oil

3. Earnings and economics: Home Depot (HD) and the company behind retailer T.J. Maxx, TJX (TJX), are set to report earnings this morning before the opening bell.

On the economics side, the Bureau of Labor Statistics will release its latest monthly data about U.S. consumer price inflation at 8:30 a.m. ET.

At the same time, the Census Bureau will release important housing market data for April related to housing starts and building permits.

4. On the radar -- Twitter, Vodafone: Twitter (TWTR) is in the spotlight Tuesday after welcoming a new board member, Debra Lee, the CEO of BET Networks.

Lee is a long-time media executive who has served as chief executive of BET for the past 10 years. BET is owned by Viacom (VIA).

Shares in Vodafone (VOD) are rising about 2% in London as investors cheer the company's latest annual results. The CEO said it was "a year of strong execution".

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