Stock index futures pointed to a higher open on Wall Street on Tuesday following the previous session's steep losses, with futures for the S&P 500 up 0.8 percent, Dow Jones futures up 0.8 percent and Nasdaq 100 futures up 1.1 percent at 0733 GMT.
U.S. Federal Reserve Chairman Ben Bernanke said the U.S. economy appeared to have enough momentum to avoid a double-dip recession, citing strengthening consumer and business spending.
Bernanke also said European leaders were committed to ensuring the survival of the euro and had enough money to meet obligations of heavily indebted member countries, soothing investor concerns over the region's debt crisis.
European shares inched higher in morning trade after soothing comments from Bernanke on the economy and the euro zone helped the market halt a sharp two-day sell-off.
Finance ministers from the debt-stricken euro zone sought to restore financial markets' confidence on Monday by agreeing how to deploy a vast anti-contagion program if needed by struggling members.
Apple Inc will be in the spotlight after it unveiled a new iPhone on Monday that goes on sale in scores of countries this year, preparing its fastest-ever global roll-out to try and stay a step ahead of rivals like Google Inc in a red-hot smartphone market.
Shares in Apple traded in Frankfurt were down 0.2 percent.
Bond insurer Ambac Financial Group said it agreed with counterparties to end its remaining $16.4 billion exposure to a class of structured debt securities.
Oil rose toward $72 on Tuesday as a forecast for another drop in U.S. inventories helped stabilize a volatile market driven by concern that Europe's debt crisis would curb energy demand.
The euro edged up but was still near four-year lows against the dollar on Tuesday as a short squeeze showed signs of waning and funds were expected to resume selling on persistent worries about Europe's financial system.
Japan's Nikkei average <.N225> rose 0.2 percent on Tuesday in choppy trade after a key support level held, with short-covering emerging a day after the benchmark suffered its biggest one-day fall in 14 months.
U.S. stocks fell on Monday, taking the S&P 500 to its lowest close in seven months, as industrials and technology shares fell and investors stayed on their heels after last week's payrolls figure discouraged buyers.
The Dow Jones industrial average <.DJI> fell 115.48 points, or 1.16 percent, to 9,816.49. The Standard & Poor's 500 Index <.SPX> slid 14.41 points, or 1.35 percent, to 1,050.47. The Nasdaq Composite Index <.IXIC> tumbled 45.27 points, or 2.04 percent, to 2,173.90.
The S&P 500 is down 13.7 percent from its April 23 closing high for the year, firmly in correction territory. The benchmark index breached a key technical support level around 1,060 late in the afternoon on Monday.
(Reporting by Blaise Robinson; Editing by Sharon Lindores)