At 0909 GMT (5:09 a.m. ET) futures for the S&P 500, Dow Jones futures and Nasdaq futures were 0.1 to 0.3 percent higher.

The main focus is on the two-day meeting of the U.S. Federal Reserve's policymaking committee on Tuesday and Wednesday, with Fed Chairman Ben Bernanke holding a press conference after it ends.

Investors will look for signs about the central bank's stance on monetary policy when the Fed's bond buying program stops in June.

Earnings news is also to be in the spotlight, United Parcel Service , an economic bellwether, first-quarter operating profit is expected to rise to 83 cents per share from 53 cents a year ago, with revenue increasing to $12.72 billion from $11.73 billion, according to Thomson Reuters I/B/E/S.

Analysts expect Inc to report a first-quarter profit of 61 cents per share, down from 66 cents a year earlier, according to Thomson Reuters I/B/E/S.

Ford is due to report first-quarter results. Toyota Motor Co <7203.T> may slip behind General Motors and Volkswagen to No. 3 in the automaker production rankings due to continued worries in the wake of the March 11 Japan's earthquake and tsunami.

In extended trading on Monday, shares of Netflix Inc , the top movie rental service, fell after the market close, when it issued an earnings outlook below expectations.

Also after the bell, pharmacy benefit manager Express Scripts Inc shares fell in extended trading after it reported a lower-than-expected quarterly profit.

Shale gas producers, Chesapeake Energy said it had completed efforts to achieve permanent well control which last week suffered a blowout.

Investors are to eye the U.S. S&P/Case-Shiller Home Price Index for February at 1300 GMT and at 1400 GMT is the release of both the U.S. Consumer Confidence for April and the Richmond Fed Manufacturing, Services Indexes for April.

U.S. crude futures fell more than $1 on Tuesday ahead of the Fed meeting, while silver dropped as traders covered risks ahead of an options expiry.

European Central Bank Governor Jean-Claude Trichet was quoted as saying he shares the view that a strong dollar is in the interest of United States.

European shares gained 0.3 percent on Tuesday, with financial stocks among the top performers after UBS client inflows outstripped forecasts.

U.S. stocks fell on Monday in light volume after Kimberly-Clark lowered its outlook raising investor concerns about higher commodity costs on company profits.

The Dow Jones industrial average <.DJI> dropped 0.2 percent, the Standard & Poor's 500 Index <.SPX> shed 0.2 percent, but the Nasdaq Composite Index <.IXIC> gained 0.20 percent.

(Reporting by Joanne Frearson; Editing by Erica Billingham)