Investing.com - U.S. stock futures pointed to a higher open on Tuesday, after remaining closed on Monday for the Martin Luther King Day holiday, as investors awaited the release of a string of fresh fourth-quarter earnings reports later in the day.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.38% rise, S&P 500 futures signaled a 0.31% gain, while the Nasdaq 100 futures indicated a 0.53% increase.
Investors remained cautious amid expectations for a reduction to the Federal Reserve's quantitative easing program at the outcome of its next policy meeting on January 29 to USD65 billion from the current USD75 billion.
Earlier in the day, China’s central bank added CNY255 billion to the financial system and expanded a loan facility to meet Lunar New Year demand for cash, easing concerns over a credit squeeze.
The tech sector was expected to be active, amid reports China's Lenovo Group is in discussions to acquire International Business Machines' low-end server business. A deal could reportedly be signed within weeks. IBM shares were up 0.42% in pre-market trade.
Aircraft manufacturer Boeing was also likely to be in focus, as Jet Airways was said to be ready to place an order for 50 Boeing aircraft worth USD2.5 billion
In the financial sector, JPMorgan Chase, up 0.43% in early trading, said it quit working on Tianhe Chemicals Group’s planned USD1 billion initial public offering in Hong Kong amid a U.S. probe into hiring practices.
Other stocks likely to be in focus included Johnson & Johnson, Travelers Companies and Verizon Communications, Delta Air, Halliburton and Rockwell Collins, scheduled to report fourth-quarter results later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 advanced 0.57%, France’s CAC 40 rose 0.36%, Germany's DAX gained 0.42%, while Britain's FTSE 100 added 0.21%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.45%, while Japan’s Nikkei 225 Index jumped 0.99%.