U.S. stock index futures pointed to a slightly higher open on Tuesday, as investors prepared themselves for a deluge of corporate earnings, amid an influx of economic data releases.
This week is set to be earnings central on Wall Street, with leading brands releasing their latest financial reports. On Tuesday, investors are expected to pay close attention to Apple, Nielsen, Chipotle Mexican Grill, Chubb, Juniper Networks and iRobot, who are all set to report.
DuPont, Merck, Baker Hughes, Whirlpool 3M, Caterpillar, Procter & Gamble, United Technologies, Sprint, Under Armour, JetBlue, Eli Lilly and Fiat Chrysler Automobiles General Motors all posted quarterly results.
On top of a bumper batch of earnings, economic data will be at the forefront of trade on Tuesday. At 9 a.m. ET, the FHFA House Price Index and S&P Case-Shiller Home Price Index are due, while at 10 a.m. ET, sentiment will shift to the release of the Richmond Fed Survey and Consumer Confidence.
While a flood of new earnings reports and data is set to keep Wall Street remarkably busy, the U.S. central bank continues to be in investors' minds.
On Tuesday, Atlanta Federal Reserve President, Dennis Lockhart is expected to speak at the Opportunity Finance Network Conference in Atlanta, scheduled for the early afternoon.
Meanwhile crude prices posted modest gains on Tuesday, however comments from OPEC members regarding chances of an output cut kept the market on edge, Reuters reported. Around 7:55 a.m. ET, U.S. WTI stood around $50.76 per barrel, while Brent hovered around $51.57.