US Markets

US stocks set for a bounce amid Greece

Merk: Greece is a sideshow for world markets

U.S. stock index futures indicated a higher open on Tuesday, recovering some of the previous day's decline as investors waited to see how the crisis in Greece unfolds.

May international trade numbers showed that the U.S. trade deficit widened, fueled by a drop in exports.

Bond yields continued to fall, with the U.S. 10-year yield at 2.22 percent and the 2-year yield at 0.58 percent. The German 10-year bund yield was 0.67 percent.

JOLTs job openings data comes at 10 a.m., and May consumer credit figures at 3 p.m.

"The U.S. economy is continuing to generate mixed signals in the wake of last week's rather disappointing payrolls report," Michael Hewson, chief markets analyst at CMC Markets, said in a note.

"May's trade balance data is expected to show a wider $42.75 billion deficit, from April's $40.9 billion figure."

Read More Greece fallout keeps tensions high

Wall Street shares closed lower on Monday amid heightened fears of a Greek exit from the euro zone after voters in the country rejected creditors' bailout terms in a referendum on Sunday. Euro zone finance ministers meet later on Tuesday to discuss the crisis.

Traders work on the floor of the New York Stock Exchange.
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Futures pared gains, with the Dow futures dipping into negative territory after earlier gaining more than 110 points.

European shares also reversed to trade trade lower in early trade, while in Asia, Japan's blue-chip Nikkei closed 1.3 percent higher and volatility continued to mark trade in Chinese stocks.

The benchmark Shanghai Composite fell more than 1 percent amid doubts that steps taken by Beijing in the past week would shore up battered stock markets.

The index has shed almost 30 percent of its value in the past month, fueling concerns that a sharp sell-off in stocks will exacerbate a slowdown in China's economy—the world's second largest.

Elsewhere, oil prices stabilized after a massive sell-off on Monday triggered by concerns over Greece and the rout in China's stock market.

Read MoreOil prices stabilize after massive sell-off

U.S. crude futures traded near $52.50 a barrel on Tuesday—flat on the day.

Companies reporting earnings this session include The Container Store. The U.S. Treasury is scheduled to hold a three-year note auction later in the day.

Read More Early movers: MRK, LULU, TSLA, CRM, FIT, SHAK, NKE & more