U.S. stock index futures shaved some gains Tuesday, after retail sales came in just shy of expectations, though positive news from overseas kept a limit on losses.
On the economic front, retail sales edged up 0.2 percent in July, according to the Commerce Department, just below expectations for a gain of 0.3 percent.
And import prices rose less than expected in July, gaining just 0.2 percent last month, according to the Labor Department, pointing to benign inflation pressures. Economists polled by Reuters had expected prices to rebound 0.6 percent after four-straight months of declines.
Traders will also be watching for comments related to Federal Reserve "tapering" from Atlanta Fed President Dennis Lockhart, who speaks at 12:45 pm ET on the economic outlook. Lockhart's speech will be of particular interest, given that last week he said Fed tapering could begin as early as September.