U.S. stock index futures pointed to a higher open Tuesday, as oil tried to hold above $30 a barrel ahead of a major day of earnings and the first Federal Reserve meeting of the year.
U.S. crude held slightly higher above $30.50 a barrel in early morning trade after plunging 5.75 percent Monday. Brent traded more than 1 percent higher, around $30.90 a barrel.
In Europe, stocks turned higher as oil tried for gains.
In a bumper day for blue-chip earnings, 3M, DuPont, Johnson & Johnson, Procter & Gamble, Sprint, Coach, Corning, Freeport-McMoRan, Lockheed Martin, AK Steel and Janus are among those reporting before market open.
Sprint, the No. 4 U.S. wireless carrier, reported a smaller quarterly loss, helped by cost cuts and higher number of subscriber additions. Shares briefly soared 18 percent in pre-market trade following the announcement.
The stock plunged 12.2 percent Monday after Sprint said it is cutting at least 2,500 jobs as part of a $2.5 billion cost savings plan.
Apple will report after the bell and is expected have earned $3.23 per share in its fiscal first quarter on revenue of $76.6 billion. Capital One, Stryker, VMWare and U.S. Steel will also release earnings after market close.
"As gyrations show, financial markets remain volatile. The good news is that, absent evidence of a more pronounced global economic slowdown, the recent selling looks overdone. And that could mean some bargains are emerging, though most developed equity markets are still far from cheap. We would highlight Japanese equities as one market offering relative value, as well as financial stocks in the U.S.," said BlackRock's global chief investment strategist, Russ Koesterich.