Stock index futures pointed to a higher opening for equities on Wall Street on Tuesday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 up 0.2 to 0.3 percent.
The United States edged closer on Tuesday to a devastating default as Republicans and Democrats were deadlocked over competing plans to raise the debt ceiling, one week before a deadline to act.
President Barack Obama, in a televised address aimed at rallying public support for a package proposed by Democrats, warned that failure to increase the U.S. borrowing limit would severely hurt the nation.
At 1145 GMT, ICSC/Goldman Sachs release chain store sales for the week ended July 23 versus the prior week. In the previous week, sales were up 0.4 percent.
Redbook releases at 1255 GMT its Retail Sales Index of department and chain store sales for July versus June. In the prior period, sales fell 0.2 percent.
Major companies due to announce results include Amazon.com
Standard & Poor's releases its S&P Case/Shiller Home Price Index for May at 1300 GMT. Economists in a Reuters survey expect the price index to be unchanged versus a 0.1 percent drop in April.
At 1400 GMT the Conference Board releases July consumer confidence. Economists expect a reading of 56.0 compared with 58.5 in June.
Resource-related stocks will be in focus as copper prices rose for the first time in five sessions on a weaker dollar. Other key base metals also advanced.
The Commerce Department releases at 1400 GMT new home sales for June. Economists in a Reuters survey forecast a total of 320,000 annualized units compared with 319,000 in May.
At 1400 GMT Federal Reserve Bank of Richmond releases July indexes on area manufacturing and service sectors. In June the composite manufacturing index was 3, the shipments index was -1, and the services revenue index read -4.
U.S. specialty finance company Orchid Island Capital Inc has postponed its initial public offering (IPO) due to market conditions, an underwriter told Reuters.
European shares <.FTEU3> were flat, while Japan's Nikkei average <.N225> gained 0.5 percent.
On Monday the Dow Jones industrial average <.DJI> fell 88.36 points, or 0.70 percent, at 12,592.80. The Standard & Poor's 500 Index <.SPX> was down 7.59 points, or 0.56 percent, at 1,337.43. The Nasdaq Composite Index <.IXIC> was down 16.03 points, or 0.56 percent, at 2,842.80.
(Reporting by Atul Prakash; Editing by Greg Mahlich)