Investing.com - Wall Street stock futures pointed to a slightly higher open on Tuesday as investors eyed corporate news and waited for more indications on monetary policy from Federal Reserve (Fed) officials.
The blue-chip Dow futures gained 30 points, or 0.14%, by 6:57AM ET (10:57GMT), the S&P 500 futures rose 4 points, or 0.19%, while the tech-heavy Nasdaq 100 futures traded up 14 points, or 0.26%.
On a light day for economic data, Tuesday will see the release of current account numbers for the fourth quarter at 8:30AM ET (12:30GMT).
The dollar extended losses to a fifth session on Tuesday, on track for its longest losing streak since early November as traders continued to pare back bullish bets following the Federal Reserve's dovish guidance on the future pace of rate hikes.
The greenback has been on the retreat since the Fed raised interest rates on Wednesday last week, but stuck to its outlook for two more hikes this year, instead of three expected by the market.
Market players awaited comments from a number of Fed policymakers for more clues on the timing of the next U.S. rate hike.
New York Fed president William Dudley steered away Tuesday from comments on monetary policy, focusing instead on the need for better bank incentives in order to reform their internal culture.
Kansas City Fed president Esther George and Cleveland Fed president Loretta Mester were also scheduled to make public appearances later on Tuesday. Fed chair Janet Yellen speaks on Thursday.
Markets have priced in the possibility for a second rate hike to arrive this year in July, though the chances for a third move by the end of the year hovered around 50%, according to Investing.com's Fed Rate Monitor Tool.
In earnings, Lennar (NYSE:LEN) may see upside in Tuesday’s session as the homebuilder and real estate finance firm reported earnings-per-share of $0.59, beating expectations for $0.55.
General Mills (NYSE:GIS) was also scheduled to report before the opening bell, while the likes of FedEx (NYSE:FDX) or Nike (NYSE:NKE) will release their own numbers after the market close.
In other headlines, Christopher & Banks Corporation (NYSE:CBK) saw shares soar 13% in the after-hours market as it was revealed that the specialty retailers chief executive had purchased 20,000 shares in what was the latest of several insider purchases.
Microsoft (NASDAQ:MSFT) and Adobe Systems (NASDAQ:ADBE) announced an agreement to join their sales and marketing software products in a move to become more competitive with rivals such as Salesforce.com (NYSE:CRM) or Oracle (NYSE:ORCL).
Google (NASDAQ:GOOGL) promised to increase its vigilance to avoid placing YouTube ads on videos with hate-filled content and had revamped its policies to give advertisers more control. The move came after several U.K. firms pulled ads that had been placed next to videos with homophobic or anti-Semitic content.
Meanwhile, oil prices pushed higher on Tuesday, bouncing back from losses a day earlier on reports that OPEC members increasingly favor extending the output curb beyond June to balance the market, although they added that this would require non-OPEC members such as Russia to also step up their efforts.
U.S. crude futures gained 0.70% to $49.25 by 6:59AM ET (10:59GMT), while Brent oil rose 0.68% to $51.79.