U.S. stock futures pointed to a higher open on Tuesday, as equity markets regained some ground after the decline due to Monday''s downbeat U.S. service sector data.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.36% rise, S&P 500 futures signaled a 0.35% gain, while the Nasdaq 100 futures indicated a 0.44% increase.
On Monday, the Institute of Supply Management said its non-manufacturing purchasing manager''s index declined to 53.0 in December from 53.9 in November. Analysts had expected the index to increase to 54.5.
The ISM said the new orders index contracted for the first time since July 2009, falling to 49.4.
Investors were eyeing Wednesday’s minutes of the Federal Reserve’s December meeting and Friday’s U.S. jobs report for December for further indications on the possible timing of reductions in Fed stimulus.
Tech stocks were likely to be in focus during the International Consumer Electronics Show in Las Vegas this week. Cisco Systems, which was gearing up for its largest-ever presence at the show, saw shares jump 0.95% in pre-market trade.
Cisco''s Chief Executive Officer John Chambers was set to deliver a keynote later Tuesday.
In the financial sector, Morgan Stanley''s Glenn Hadden reportedly left his position as head of interest-rates trading, citing differences with his bosses over how the business should be run.
Elsewhere, JetBlue Airways rose 0.35% in extended trading, after dropping over 4% on Monday as the airline said it would temporarily halt service in Boston and at the three New York regional airports due to weather-related disruptions.
Whole Foods Market also regained some ground pre-market, up 0.11%, after losing over 3% on Monday when Longbow Research said the company''s profit margin could decline as it hikes discounts to compete with rivals.
Other stocks likely to remain in focus included Micron, Apollo Group and The Container Store, scheduled to release quarterly results later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 gained 0.80%, France’s CAC 40 climbed 0.46%, Germany''s DAX advanced 0.58%, while Britain''s FTSE 100 rose 0.40%.
During the Asian trading session, Hong Kong''s Hang Seng Index added 0.13%, while Japan’s Nikkei 225 Index slid 0.59%.
Later in the day, the U.S. was to publish a report on the trade balance.