US equity futures were tracking in the green before the open Tuesday as traders prepare for the release of a key inflation report later in the week and parse multiple stimulus measures announced by the Chinese government to support the country's economy. Standard & Poor's 500 and the Dow Jones Industrial Average increased 0.2% each in premarket activity, while the Nasdaq added 0.3%.
The majority of Asian exchanges were pointing higher while European bourses were trending upwards midday on the continent. China's central bank on Tuesday announced plans to cut the amount of cash banks have to hold in reserve, among other measures. The personal income and outlays report for August is due Friday.
The report includes the personal consumption expenditure core price index, which is the Federal Reserve's preferred inflation metric. Tuesday's economic calendar has the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for July, at 9 am ET. The Conference Board's consumer confidence report for September is out at 10 am, along with the Richmond Fed Manufacturing Index for the same month. Fed Governor Michelle Bowman is scheduled to speak at 9 am. AutoZone and Thor Industries are set to report their latest financial results before the bell, among others.
KB Home, Progress Software and Worthington Enterprises post earnings after the markets close. Shares of Tesla were up 1.5% pre-bell following an analyst note by Tudor Pickering Holt, which said the electric vehicle maker's third-quarter deliveries are expected to come in ahead of initial projections.
AAR gained 3.6% as the aviation services provider reported higher fiscal first-quarter results from the year before. Before the opening bell, bitcoin traded up 0.5% at $63,658, West Texas Intermediate crude oil advanced 2.6% to $72.2 a barrel, yields on 10-year Treasuries climbed 4.7 basis points to 3.79% and gold inclined 0.2% to $2,659 an ounce..