Futures on major U.S. stock indices point to higher opening on Tuesday with futures on the S&P 500 up 0.21 percent, futures on the Dow Jones Industrial Average up 0.15 percent and Nasdaq100 futures up 0.13 percent.

US stocks finished narrowly mixed on Monday in very light trading as a monstrous snow storm on the East Coast likely kept many traders home and a rate hike over the weekend by China dampened some investor sentiment.

Investors will focus on Conference Board consumer confidence index and S&P/CaseShiller house price index for the latest signs of how the US economy is performing.

S&P/CaseShiller house price index for the month of October will be released before the market opens, which is expected to show further decline. Some economists are warning that the housing market could suffer a double-dip next year, in stark contrast to bullish expectations for the overall economy in 2011.

The Conference Board will release its consumer confidence index for the month of December after the market opens. Economists are forecasting that confidence may rise to 56.10 from 54.10 of previous month.

On the corporate front, shares of American International Group will be in focus as its shares surged 9.30 percent on Monday after It secured more than $4-billion in credit lines from banks.

The euro advanced 0.57 percent to 1.3240 against the dollar and the yen gained 0.71 percent against the greenback.

Crude oil futures advanced 0.13 percent to $91.12/barrel and gold futures gained 0.83 percent.

European stock markets are currently trading higher with DAX30 up by 9.62 points and CAC 40 up by 10.77 points.