U.S. stock index futures pointed to a lower open on Wall Street on Tuesday following the previous session's strong gains, with futures for the S&P 500 down 0.41 percent, Dow Jones futures down 0.31 percent and Nasdaq 100 futures down 0.28 percent at 3:55 a.m. ET.

The dollar fell to a 3-month low against the euro on Tuesday, as the single currency gained support from solid euro zone data and corporate earnings, while the greenback fell on the perception that the U.S. growth outlook is deteriorating, forcing the Federal Reserve to keep interest rates low.

The two-year U.S. Treasury note yield dropped to a record low in Europe on Tuesday on the prospect of the Federal Reserve buying more U.S. Treasuries. The two-year yield fell as low as 0.542 percent from 0.562 percent late in New York on Monday. At 3:30 a.m. ET, it was down 2 basis points on the day at 0.546 percent, Reuters data showed.

A Wall Street Journal report, without citing sources, said Federal Reserve officials meeting on August 10 will consider whether to use cash the Fed receives when its mortgage-bond holdings mature to buy new mortgage or Treasury bonds, instead of allowing its portfolio to shrink gradually, as it is expected to do in the months ahead.

Oil prices extended three-month highs toward $82 on Tuesday, tracking gains in Asian equities following strong bank earnings and upbeat manufacturing data for industrialized economies a day earlier.

Mining shares will be in focus after gold miner Kinross Gold Corp said it will buy the 91 percent of Red Back Mining Inc that it does not already own for around $7 billion to create one of the world's largest gold miners.

Xstrata said it would pump over $5 billion into new mines and keep targeting organic growth rather than acquisitions, after more than doubling first-half earnings per share on higher metals prices.

Research in Motion has agreed to allow Indian security agencies to monitor its BlackBerry services, The Economic Times newspaper reported on Tuesday, after pressure from governments worried about national security.

Sanofi-Aventis sent a takeover proposal valued at about $18.4 billion, or $69 per share, to biotechnology company Genzyme Corp and the two sides are discussing the offer, sources familiar with the situation said on Monday.

MetLife Inc said it sold more than $3 billion of stock to help pay for its acquisition of the foreign life insurance business of American International Group, or about 50 percent more than it originally expected.

Companies scheduled to report quarterly results on Tuesday include Dow Chemical Co , D.R. Horton and Procter & Gamble Co.
.

After the bell on Monday, Sykes Enterprises Inc shares plummeted 33.9 percent to $10.11 in extended trade after the company reported second-quarter earnings and gave guidance for the full-year.

On the macro front, investors awaited June's personal income and consumption data, due at 8:30 a.m. ET, and June's factory orders and pending home sales, due at 10 a.m ET.

U.S. shares ended at their highest level in 10 weeks on Monday and the S&P 500 pierced key technical levels as a weaker U.S. dollar lifted the energy and raw materials sectors while robust results in Europe from BNP Paribas and HSBC added to the positive sentiment.

The Dow Jones industrial average <.DJI> gained 208.44 points, or 1.99 percent, to 10,674.38. The Standard & Poor's 500 Index <.SPX> advanced 24.26 points, or 2.20 percent, to 1,125.86. The Nasdaq Composite Index <.IXIC> rose 40.66 points, or 1.80 percent, to 2,295.36.

The S&P 500 closed the session above its 200-day moving average and the 1,121 level, the midpoint of the slide from its historic high reached in October 2007 and the 12-year low hit in March 2009, which has been viewed as a key resistance level. The benchmark has not been able to close above this 50 percent retracement since mid-May.

(Reporting by Blaise Robinson; Editing by Louise Heavens)