U.S. stock index futures pointed to a lower open on Wall Street on Tuesday, with futures for the S&P 500 down 0.29 percent, Dow Jones futures down 0.16 percent and Nasdaq 100 futures down 0.16 percent at 3:30 a.m. EDT.

On the M&A front, top U.S. coal miner Peabody Energy raised its offer for Australia's Macarthur Coal to $3.27 billion, but the new offer is at a discount to Macarthur's last trading price.

Alcoa Inc said on Monday it plans to shut and demolish two previously idled plants, citing market fundamentals.

Microsoft Corp is set to announce its long-awaited Project Pink phones early next week, sources familiar with the matter said on Monday, as the world's largest software company attempts to gain traction in the growing market for young smartphone users.

Apple Inc sold more than 300,000 iPads on the tablet computer's first day in stores, a strong showing that roughly matched Wall Street forecasts and mirrored the iPhone's debut in 2007.

After the bell on Monday, Bally Technologies Inc shares fell more than 7 percent after the company posted an updated outlook.

On the macro front, the Federal Reserve will release minutes from its March 16 meeting, at which the Federal Open Market Committee reiterated its intention to keep interest rates ultra low for an extended period.

Oil fell a few cents as the dollar firmed on Tuesday, sliding from an 18-month high near $87 reached a day earlier on data showing the pace of the U.S. economic rebound has gathered steam.

U.S. Treasury prices slid on Monday with benchmark yields touching 4 percent for the first time in 10 months, after upbeat data boosted bets the economic recovery will quicken, paring safe-haven demand for bonds.

European stocks were up 0.5 percent in morning trade, led by energy shares such as BP and Total <.EU>, while Japan's Nikkei average dropped 0.5 percent on Tuesday, hit by profit-taking after successive days of 18-month highs.

U.S. stocks rose on Monday, pushing the Dow up near the 11,000 level, as signs of a turnaround in the U.S. labor market bolstered hopes the economy is strengthening and the profit outlook is brightening.

The Dow Jones industrial average <.DJI> gained 46.48 points, or 0.43 percent, to end at 10,973.55. The Standard & Poor's 500 Index <.SPX> rose 9.34 points, or 0.79 percent, to finish at 1,187.44. The Nasdaq Composite Index <.IXIC> shot up 26.95 points, or 1.12 percent, to 2,429.53.

(Reporting by Blaise Robinson; Editing by Jon Loades-Carter)

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