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US futures rise slightly ahead of open, as investors await data

  • Data is set to be at the front of investors' minds as a batch of economic releases are scheduled to be published
  • Momo, Autodesk and Pure Storage are some of the companies set to publish earnings

U.S. stock index futures pointed to a slightly higher open Tuesday as investors looked ahead to key economic data releases.

Dow Jones industrial average futures rose 36 points, while S&P 500 and Nasdaq 100 futures gained 3 points and 8.25 points, respectively.

A slew of data releases are set to keep investors on their feet. First off, the S&P/Case-Shiller Home Price Indices and Federal Housing Finance Agency house price index data are due at 9 a.m. ET.

Jin Lee | Bloomberg | Getty Images

At 10 a.m. ET, consumer confidence and the Richmond Fed survey of manufacturing activity are due out, which will then be followed by the Dallas Fed's Texas services sector outlook survey at 10:30 a.m. ET.

On the earnings front, Momo, Autodesk and Pure Storage are some of the companies set to publish their latest financial figures.

Looking to the U.S. central bank, two speeches by the U.S. Federal Reserve are set to take place. New York Fed President William Dudley is expected to be in New York at the third annual conference on evolving structure of the U.S. Treasury market.

And Philadelphia Fed President Patrick Harker is set to appear at the Philadelphia Fed conference on elderly financial health.

The Senate is due to vote on a bill aimed at reforming the U.S. tax code on Thursday. Investors have been eagerly awaiting tax reform since the election in 2016, yet doubts over whether the Republican-led Congress could achieve this before the year is out continues to weigh on sentiment.

If the Senate bill is approved, then a joint bill with the House would have to be created. The House passed a bill on a few weeks back to cut taxes on businesses and individuals, but it differs from the Senate bill in some key areas.

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Aside from tax reform, retailers have been front and center for markets as of late, as investors bet on strong sales during this year's holiday season. Consequently, U.S. retailers finished higher Monday, while the broader market finished relatively mixed yet flat.

Looking to markets in other regions, trade in Europe ticked higher on Tuesday, while markets in Asia finished the session mixed. Oil prices were trading in the red.

—CNBC's Fred Imbert contributed to this report