Investing.com - U.S. stock futures pointed to a higher open on Tuesday, as speculation over possible stimulus measures in China supported equity markets, while investors eyed the release of U.S. economic reports later in the day.
Ahead of the open, the Dow 30 futures pointed to a 0.35% increase, S&P 500 futures signaled a 0.31% gain, while the Nasdaq 100 futures indicated a 0.25% rise.
Equity markets strengthened amid speculation China could announce fresh stimulus measures to bolster growth after a report on Monday showed that Chinese manufacturing activity deteriorated for a third successive month in March.
In the U.S., a report on Monday showed that the preliminary reading of the Markit manufacturing index came in at 55.5 in March, down from 57.1 in February.
The data indicated that the U.S. economy is still struggling to gain traction in the wake of a weather induced slowdown.
Walt Disney Company (NYSE:DIS) was likely to be in focus, after it agreed to buy Maker Studios, a supplier of online video content to YouTube, for at least $500 million, gaining technology and experience with short-form entertainment.
The news sent the company's shares up 0.33% in after-hour trade.
The tech sector was also expected to be active, following reports Google Inc (NASDAQ:GOOG), up 0.31% pre-market, will be partnering with Ray-Ban and Oakley for new glass designs.
Separately, Apple Inc (NASDAQ:AAPL) was said to be working with Comcast Corporation (NASDAQ:CMCSA) to provide a streaming service that would use an Apple set-top box. The two companies reportedly hope a collaboration will relieve some of the frustration related to congestion on the Web and buffering issues, which user's may experience while streaming Web video.
Apple shares rose 0.22% in early trading, while Comcast slipped 0.18%.
Other stocks likely to be in focus included Carnival (NYSE:CCL), Walgreen Co (NYSE:WAG) and McCormick (NYSE:MKC), scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were sharply higher. The DJ Euro Stoxx 50 jumped 1.01%, France’s CAC 40 advanced 1.08%, Germany's DAX rallied 1.11%, while Britain's FTSE 100 climbed 1.07%.
During the Asian trading session, Hong Kong's Hang Seng dropped 0.52%, while Japan’s Nikkei 225 slid 0.36%.
Later in the day, the U.S. was to release report on house price inflation and consumer confidence, as well as official data on new home sales.