U.S. stock index futures indicated a flat to slightly lower open on Tuesday, as traders eyed major bank earnings and retail sale data.
Futures initially edged lower after moderate data. Retail sales showed an increase of 0.9 percent, slightly below expectations of a 1.1 percent month-on-month increase in overall spending. However, the figure was the first gain since late last year.
The Producer Price Index (PPI) showed an increase of 0.2 percent in March, in line with expectations and breaking four consecutive months of declines.
Following the data reports, the U.S. 10-year Treasury yield fell to 1.87 percent. The 2-year Treasury yield fell as low as 0.50 percent.
"I think across the board it's a little bit disappointing. People have been jumping all over March as spring rebound month. I think it's a little too early," said Bob Sinche, global strategist at Amherst Pierpont. "I think the bond market had come in a little bit short, expecting a good retail number."
"I don't think it's the end of the dollar rally. I think it was a bit overdone. $1.05 is a very difficult area for the euro to break through. it's got to be a dollar trade," he said, adding it needs stronger us data to drive it.
The U.S. dollar edged lower after the data releases, with the euro near $1.06.
Financials kicked off the earnings season, with JPMorgan Chase and Wells Fargo reporting before market open. Johnson & Johnson also posted results before the bell. Intel and CSX are both due after the bell.
JPMorgan's net income rose to $5.91 billion, or $1.45 per share, in the first quarter ended March 31, from $5.27 billion, or $1.28 per share, a year earlier, according to Reuters. CEO Jamie Dimon said the company is getting safer and stronger, as well as gaining market share.