Stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500, the Dow Jones and Nasdaq 100 all up 0.3 percent at 5 a.m. ET.
European stocks are up 0.2 percent in morning trade, lifted by expectation that this week's liquidity injection by the European Central Bank will alleviate tensions in the banking sector. <.EU>
Brent crude futures extended losses and slipped below $124 on Tuesday, halting a surge that threatened to hurt the global economy, though concerns over supply from the Middle East capped losses.
Federal Reserve Governor Elizabeth Duke, in testimony prepared for a congressional hearing on Tuesday, laid out the central bank's case for more action to bolster the U.S. housing market, saying it was a significant drag on economic recovery.
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On the economic front, durable goods orders data is due at 1330 GMT, with economists in a Reuters survey expecting a 1 percent drop in orders after a 3 percent rise in December. The S&P Case/Shiller Home Price Index for December is due at 1400 GMT, and February's consumer confidence data will be released at 10 a.m. ET.
The benchmark S&P 500 closed at its highest level since mid-2008 on Monday, extending gains for a third session.
The Dow Jones industrial average <.DJI> inched down 1.44 points, or 0.01 percent, to 12,981.51. The Standard & Poor's 500 Index <.SPX> was up 1.85 points, or 0.14 percent, at 1,367.59, and the Nasdaq Composite Index <.IXIC> was up 2.41 points, or 0.08 percent, at 2,966.16.
(Reporting by Blaise Robinson; Editing by Will Waterman)