Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fell 1.0 to 1.1 percent, pointing to a weaker open on Wall Street on Tuesday.

U.S. stocks racked up their biggest one-day gain in over a year on Monday as an agreement on a $1 trillion emergency rescue package from the EU quelled fears a new credit crisis would derail European economies.

ICSC/Goldman Sachs release at 6:45 a.m. EST chain store sales for the week ended May 8 versus the prior week. In the previous week, sales fell 0.4 percent.

At 8:55 a.m. EST, Redbook releases its Retail Sales Index of department and chain store sales for May versus April. In the prior period, sales fell 2.2 percent.

Two key amendments to the U.S. Senate's far-reaching Wall Street reform bill are expected to be voted on Tuesday, with a measure that would allow limited oversight of the Federal Reserve expected to pass.

Another amendment that would require the government to relinquish control of housing finance giants Fannie Mae and Freddie Mac within two years looked set to fail.

Commerce Dept releases at 10 a.m. EST wholesale inventories for March. Economists in a Reuters survey forecast inventories to rise by 0.5 percent in March versus a rise of 0.6 percent in February.

Walt Disney Co and Electronic Arts are due to report financial results.

Senior executives from NYSE Euronext , Nasdaq OMX Group Inc and CME Group Inc will testify to a congressional panel on Tuesday on last week's shock sell-off in the stock markets, according to a witness list obtained by Reuters.

Resource-related stocks will be in focus as crude oil prices fell 1.4 percent to hover below $76 a barrel. Key base metals prices fell 2.3 to 3.6 percent in a broad metals sell-off triggered by worries about economic growth and demand in the euro zone and China.

Chinese annual inflation pushed up to an 18-month high in April and property prices rose at a record clip, showing that the government still has its work cut out to keep the world's third-largest economy from boiling over.

Big oil goes under the spotlight on Tuesday when U.S. lawmakers grill top executives on the drilling rig explosion and oil spill that threatens an environmental catastrophe in the Gulf of Mexico.

The euro fell on Tuesday as the relief effects of an emergency aid package to prevent the spread of a European debt crisis dissipated and focus switched back to structural problems plaguing the euro zone.

Japan's Nikkei average <.N225> slipped 1.1 percent on Tuesday, as euphoria over the $1 trillion package dissipated.

The FTSEurofirst 300 <.FTEU3> index of top European shares fell 1.3 percent on Tuesday. It jumped 7.4 percent in the previous session, the biggest one-day gain since November 2008.

On Monday, The Dow Jones industrial average <.DJI> gained 404.71 points, or 3.90 percent, to 10,785.14. The Standard & Poor's 500 Index <.SPX> rose 48.85 points, or 4.40 percent, to 1,159.73. The Nasdaq Composite Index <.IXIC> added 109.03 points, or 4.81 percent, to 2,374.67.

Legg Mason Inc shares rose 2.7 percent to $30.75 in extended trade on Monday after the firm reported a fiscal fourth-quarter profit and outlined several long-awaited structural changes it said will save up to $150 million annually by the fourth quarter of fiscal 2012.

MBIA Inc shares fell almost 5 percent in extended trading on Monday after the bond insurer posted a $1.5 billion net loss in the first quarter, hurt by charges linked to the rising market value of its obligations.

(Reporting by Atul Prakash; Editing by Mike Nesbit)