The U.S. stock index futures point to a slightly higher open Tuesday as investors continue to maintain a cautious mode to find where the economy is heading following the Federal Reserve’s announcement of the quantitative easing measures to bolster economic growth.
The futures on the Dow Jones Industrial Average were up 0.13 percent, the futures on the Standard & Poor's 500 index were up 0.09 percent and those on the Nasdaq 100 index were up 0.05 percent.
Investors are expected to focus on the Consumer Confidence Index (CCI) to be reported by the Conference Board Tuesday. The CCI, an indicator of the consumer spending that plays a major role in overall economic activity, is expected to rise to 63 in September, up from 60.6 in August.
The S&P/Case-Shiller House Price Index, which measures the change in the selling price of single-family homes in 20 metropolitan areas, will be reported by S&P Tuesday. It is expected to report a rise of 1 percent in July compared to the same month last year.
On Monday, the U.S. markets fell amid investor concerns that the stimulus measures announced this month by policymakers around the world would not be able to rejuvenate the global economic growth momentum. The Dow Jones Industrial Average fell 0.15 percent, the S&P 500 Index was down 0.22 percent and the Nasdaq Composite Index declined 0.60 percent.
European markets were mixed Tuesday as investor confidence was weighed down by concerns that the debt crisis faced by the euro zone was intensifying as optimism about the stimulus measures announced by the European Central Bank began to fade. German Chancellor Angela Merkel and the ECB President Mario Draghi will be speaking at the annual “Day of the German Industries” event organized by the Federation of German Industries in Berlin Tuesday.
London's FTSE 100 was up 1.16 points, Germany's DAX 30 index fell 21.19 points and France's CAC 40 dropped 7.95 points.
Asian markets were range-bound as investors were concerned that the disappointing trade across countries was another reminder that the underlying economic conditions were weak regardless of the recent monetary policy announcements.