U.S. stock market futures got a boost Tuesday as investors were optimistic about aggressive fiscal and monetary stimulus kickstarting the economy alongside a potential record rebound in May retail sales, plus stocks to watch today in the Money & Markets Opening Bell.

The Top Story

Futures jumped after the Trump administration reported it is rolling out a $1 trillion infrastructure proposal to spur the U.S. economy.

The announcement came a day after the Federal Reserve said it was starting a program to aid companies impacted by the coronavirus pandemic. The Fed also said it was going to start buying up U.S. corporate debt.

Fed Chair Jerome Powell opens two days of testimony before Congress this morning.

The benchmark S&P 500 index is now about 9% below its record high hit four months earlier after coming within 5% of that level early last week.

U.S. stocks ended a volatile session higher on Monday with the S&P 500 closing above its 200-day moving average, a key technical indicator of long-term momentum.

Additionally, data is expected to show U.S. retail sales rose in May as 2.5 million Americans went back to work.

As of 9:20 a.m. EDT, Dow Jones futures jumped 2.76%. S&P 500 futures were 2.32% higher and Nasdaq futures moved up 1.77%.

Stocks to Watch Today

Docusign Inc. (Nasdaq: DOCU) — The electronic agreement manager is entering the Nasdaq 100 index, replacing United Airlines Holdings Inc. (Nasdaq: UAL). The index includes some of the largest non-financial companies listed on the Nasdaq. Shares of Docusign moved 1.5% higher.

Chesapeake Energy Corp. (NYSE: CHK) — Shares of the Oklahoma-based hydrocarbon company dropped 5.2% after reports surfaced that the company could file for bankruptcy as early as this week. It’s currently negotiating a nearly $900 million loan to support operations.

Tesla Inc. (Nasdaq: TSLA) — The electric auto manufacturer said it will purchase cobalt from commodities giant Glencore to boost output at its China and German factories. Shares of Tesla jumped 2% in premarket trading.

EU Launches Probe Into Apple Pay and Its App Store

The European Union’s executive arm announced on Tuesday that it’s launching a pair of antitrust investigations into Apple Inc. (Nasdaq: AAPL) and its App Store and Apple Pay platforms.

According to CNBC, the European Commission plans to look specifically into Apple’s rules for developers on the distribution of apps and whether it violates EU competition rules.

The Commission is also examining Apple’s terms and conditions for integrating Apple Pay into apps and websites.

Oil Market Headed for Big Rebound in 2021

Oil demand fell off a cliff thanks to the coronavirus pandemic, but supply cuts from major producers and an uptick in demand should balance the market, according to the International Energy Agency.

In its monthly market report, the agency said the world’s demand for crude oil will fall by 8.1 million barrels a day this year, the demand for oil will jump by a record 5.7 million barrels a day in 2021.

The IEA said if countries hold to plans of constricting the global oil supply, the market could return to more solid footing by the end of 2020.

US Falls to 10th in World Competitiveness Ranking

Just two years after losing the top spot as the world’s most competitive economy, the U.S. fell further down the ladder to 10th in the World Competitiveness Ranking.

The Institute for Management Development in Switzerland compiles the rankings annually and concluded the weight of the recent U.S.-China trade war pushed the U.S. ranking from third a year ago to 10th.

Singapore was the most competitive economy for the second year in a row, followed by Denmark and Switzerland.

What We’re Reading

Last Week’s Ominous Island Reversal Pattern Says This Is a Trader’s Market (Money & Markets)

Hello Kitty Founder Hands Business to His Grandson (CNN Business)

2 Trucking Stocks to Buy Now Amid Industry’s Rebound (Money & Markets)

Earnings Report

Here are the companies releasing earnings reports today:

Groupon Inc. (Nasdaq: GRPN)

H&R Block Inc. (NYSE: HRB)

Lennar Corp. (NYSE: LEN)

Oracle Corp. (NYSE: ORCL)

Vince Holding Corp. (NYSE: VNCE)

Check back each morning before the opening bell for stocks to watch today with Opening Bell, here on Money & Markets.