Futures on major U.S. stock indices point to higher opening on Tuesday, the first trading day of March, after markets gained in February, marking the third consecutive month of equity price gains.

Futures on the S&P 500 are up 0.44 percent, futures on the Dow Jones Industrial Average are up 0.37 percent and Nasdaq100 futures are up 0.57 percent.

On Monday, U.S. stocks got a boost from some bullish comments by uber-investor Warren Buffett over the weekend and a number of M&A deals.

For the whole month of February, the Dow rose 2.8 percent; the S&P added 3.2 percent and the Nasdaq climbed 3 percent.

Investors are likely to focus on US Federal Reserve Chairman Ben Bernanke’s testimony before the Senate Banking Committee at 10:00 am EDT.

On the economic front, reports on Institute of Supply Management (ISM) manufacturing index and construction spending will be released after the markets open.

ISM manufacturing for the month of February is expected to show a slight deterioration in activity. Economists are forecasting that ISM manufacturing index for the month of February will be 60.50 against 60.80 in the previous month.

The euro advanced 0.22 percent to 1.3836 against the dollar and the yen declined 0.38 percent against the greenback.

Crude oil futures gained 0.07 percent to $97.04/barrel and gold futures advanced 0.61 percent.

European stock markets are currently trading higher with FTSE100 up by 20.26 points, DAX30 up by 48.55 points and CAC 40 up by 17.75 points.