U.S. stock index futures signaled a slightly higher open on Tuesday, erasing earlier losses after widely followed hedge fund manager David Tepper told CNBC he is "definitely bullish" on stocks.
The head of Appaloosa Management often has been credited with sparking the "Tepper Rally" in September 2010, when he told CNBC then that the Federal Reserve would support equity prices.
He again stated a position that liquidity would guide the markets, whether in the U.S. or other global markets where central banks are easing conditions.
"What's going to make you bearish?" Tepper said. "I think every place is the place to be in the stock markets of the world."
However, any type of a 2013 revival of a "Tepper Rally" seemed unlikely, with the market open indicated just barely higher.
Futures were lower earlier as fears that China's central bank will not provide stimulus to boost its economy saw the Shanghai Composite fall to a one-week low.
The big corporate news of the morning actually was positive, with hedge fund manager Dan Loeb recommending that Sony break up. Loeb's recommendation that Sony break off part of its entertainment business found a warm reception from traders, who sent shares up more than 4 percent in premarket trading.
Global issues, though, dampened the mood.
China could lower its official growth target to 7.0 percent from 7.5 percent in a move that may suggest Beijing is growing more comfortable with a slower pace of growth, according to local media reports.
(Read More: Is China Really Mulling a Lower Growth Forecast?)