U.S. stock-index futures pared Tuesday gains after a measure of manufacturing activity in the New York region came in below expectations.
The Empire State manufacturing index for February came in at 4.48 in February versus 12.51 in January.
February's NAHB (National Association of Home Builders) index is also out on Tuesday, and is the first of the week's housing market indicators.
"Sentiment among homebuilders remains high. And despite some recent disappointments in the wider economic data, we see little reason why it should have suffered significantly over recent weeks," said Capital Economics' Paul Diggle in a research note.
(Read more: Traders sift through data in hunt for real economy)
In corporate news, Coca-Cola posted fourth-quarter earnings before the bell that matched analysts' estimates, with a webcast following at 9:30 a.m. Earlier this month, the Dow-listed company purchased a 10 percent minority stake in Green Mountain Coffee Roasters for $1.25 billion.
The company reported earnings of 46 cents a share on revenue of $11.04 billion. Analysts polled by Reuters forecast Coca-Cola will post earnings per share of 46 cents on revenue of $11.3 billion, versus earnings of 41 cents on revenue of $11.5 billion last year.
(Read more: Coca-Cola earnings match expectations)
The Federal Reserve is due to purchase $3.75-$4.5 billion of 5-6-year Treasury notes on Tuesday. This comes ahead of the Fed's publication on Wednesday of the minutes from its January meeting, which investors will sift through for clues about the future of monetary easing.
—By CNBC's Katy Barnato