U.S. stock index futures pointed to a higher open on Tuesday, attempting further recovery from the sharply lower start to the year, as oil prices and the Chinese yuan stabilized.
The U.S. dollar traded slightly higher against major world currencies, with the euro near $1.085 and the yen at 117.69 yen against the greenback.
Overnight, the Chinese central bank set the yuan mid-point fix at 6.5628 against the dollar, similar to Monday's fix of 6.5626.
"Maybe a little stability is (helping) to bring out some buyers in the context of an oversold market," said Peter Boockvar, chief market analyst at The Lindsey Group. He is watching whether the gains will be sustained throughout Tuesday's session, or attract selling.
Stocks in Europe rebounded, trading more than 1.5 percent higher as oil prices recovered from session lows on Tuesday, while Chinese stocks closed slightly higher after wavering between gains and losses on Tuesday, following a sharp plunge Monday.
"Global investors still remain firmly in risk-averse mode in the near-term as the market focuses switches back to the ongoing slide in the price of crude oil towards $30/barrel. The price of copper has also fallen to new cyclical lows, reinforcing investor concerns over the outlook for global growth," Lee Hardman, currency analyst at Bank of Tokyo-Mitsubishi, said in a report on Tuesday.