Retail earnings big on Wall Street for traders

U.S. stock index futures fell on Tuesday, ahead of earnings from big-name retailers like Best Buy andDick's Sporting Goods.

Also reporting are, AutoZone, Insys Therapeutics, Smith & Wesson and TiVo. Vehicle sales data for February will also be published.

This comes a day after the Nasdaq Composite closed above 5,000 for the first time since March 2000, with the Dow and the S&P 500 also hitting record highs.

"Recording all-time and multi-year highs have become a norm for the global equity markets and the reason behind this is simple—easing actions taken by the central banks around the globe," said Naeem Aslam, chief market analyst at AvaTrade, in a research note on Tuesday.

"Central banks are leaving no stones unturned to boost the liquidity level in their markets and this in return is making the stock market to roar."

Read MoreNasdaq 5,000: Bubble or not?

Investors will also eye oil prices on Tuesday, after a sharp drop on Monday. Brent crude posted its biggest drop in a month on Monday, but recovered on Tuesday to trade around $60.76. U.S. crude traded at roughly $50.31.

The big data point for the week will be Friday's nonfarm payrolls report.

Russia tension

Tension between Moscow and the West are mounting following the death of Boris Nemtsov, a prominent critic of Russian President Vladimir Putin.

U.S. President Barack Obama said on Monday that Nemtsov's murder was a sign of a worsening climate for civil rights and media freedom in the country and Putin has been accused of involvement in the murder.