U.S. stock futures advanced Tuesday after a one-day hiatus, as traders hunted for signs that the deterioration in the world economy will abate.
S&P 500 futures rose 5.8 points to 933.20 and Nasdaq 100 futures added 10.5 points to 1,275.50. Dow industrial futures rose 50 points.
U.S. stocks declined on Monday after a three-session winning streak, with bearish analyst notes on J.P. Morgan Chase and Verizon Communications weighing on the market. The Dow Jones Industrial Average dropped 81 points, the S&P 500 fell 4 points and the Nasdaq Composite fell 4 points.
There's a full slate of data due for release Tuesday, with November factory orders, the Institute of Supply Management's non-manufacturing index for December, and November pending sales all due at around 10 a.m. Eastern.
David Shairp, a strategist at JP Morgan Asset Management in London, said what's important from a market perspective is whether the momentum of the slide in economic activity will fade.
"The first hurdle to clear for a more encouraging outlook would be a stabilization in the negative surprise data," said Shairp, who added that his firm's global multi-asset group is neutral equities vs. bonds.
Also scheduled for release, at 2 p.m., are minutes from the last meeting of the Federal Reserve's interest-rate setting committee.
"The minutes of the last Fed meeting will be of particular interest in light of the Committee's decision to embark on a campaign of quantitative easing," said Joseph LaVorgna, an economist at Deutsche Bank. Deutsche Bank economists separately increased their forecast for nonfarm payroll losses in December to 600,000 from 550,000, citing a lack of hiring in the retail sector. The data is due for release on Friday.
The dollar rose against the euro and the Japanese yen. Euro-zone inflation slowed to an unexpectedly low 1.6% in December.
Oil futures rose 85 cents to $49.66 a barrel as gas supplies from Russia to Eastern Europe dried up, while gold futures dropped $13.80 to $844 an ounce.
On the corporate front, solar stocks in Europe dropped after LDK Solar cut its fourth-quarter revenue outlook and said clients requested delays in shipments. LDK Solar dropped 9% in pre-open action.
Mosaic , the fertilizer firm, may see pressure after noting "weak" crop nutrient sales activity in the current quarter.
Logitech International , the maker of computer mice, withdrew its earnings forecast and said it would cut 15% of its salaried workforce.
Overseas, the FTSE 100 rose 0.8% in mid-morning London trade and the Nikkei 225 rose 0.4% in Tokyo.
