Futures Hold Gains After Case-Shiller Report

U.S stock index futures remained in positive territory Tuesday following the S&P Case-Shiller home price index, but a pessimistic outlook from Caterpillar limited gains.

Home prices edged higher for a sixth-consecutive monthin July, rising 0.4 percent, though the improvement was not as strong as expected, according to the S&P/Case Shiller composite index of 20 metropolitan areas. Economists had expected a gain of 0.9 percent. On a non-adjusted basis, prices climbed 1.6 percent.

Also on the housing front, the Federal Housing Finance Agency releases its home price index for July at 10 am ET. The index rose by 0.7 percent in June.

Caterpillar declined after the construction and mining equipment maker reduced its 2015 earnings expectations, citing the slower-than-expected growth in the global economy.

The news follows lowered outlooks by transportation companies FedEx and Norfolk Southern in recent weeks.

Facebook edged higher a day after shares of the social-networking giant plunged 9 percent following a weekend report from Barron’s that the stock remains overvalued.

European shares were mixed in early trade on Tuesday ahead of a meeting between German Chancellor Angela Merkel and European Central Bank President Mario Draghi in Berlin. Meanwhile, speculation continues over whether Spain will be forced to accept a full bailout.

The Conference Board will release its consumer confidence index at 10 a.m. Analysts polled by Briefing.com forecast a jump to 63 in September, from 60.6 in August.

The Richmond Manufacturing Index for September will also be released at 10 a.m.

The U.S. Treasury will auction $35 billion 2-year notes, with the results available shortly after 1pm ET.

By CNBC’s JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)

Coming Up This Week:

TUESDAY: USDA food prices outlook, consumer confidence, FHFA home price index, Richmond Fed mfg index, 2-yr note auction, RIM developers conf.
WEDNESDAY: Weekly mortgage apps, new home sales, oil inventories, 5-yr note auction
THURSDAY: Durable goods orders, GDP, jobless claims, pending home sales, 7-yr note auction, farm prices; Earnings from Discover Financial, Nike, Accenture, Research In Motion, Micron
FRIDAY: Personal income & outlays, Chicago PMI, consumer sentiment; Earnings from Walgreens

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