US pre-open: Futures flat as investors pause after Monday's gains
US futures were flat on Tuesday as investors looked set to pause for breath following a 228-point surge on the Dow Jones Industrial Average the previous day.
The DJIA was set to open up just nine points, while the S&P 500 and the Nasdaq were expected to start the session one and six points lower respectively.
The February Consumer Confidence survey is due at 1500 GMT along with the Richmond Fed Manufacturing Index and existing home sales data, while the S&P/Case-Shiller Home Price Indices for December will be out an hour before at 1400 GMT.
Asia follows overnight drop in oil
Elsewhere, the global rally came to a roadblock in Asia on Tuesday, as oil prices fizzled from their US highs overnight and most markets in the region finished in the red.
"As the markets shake off one of the worst starts to the year on record, the risk-reward points to the upside in exploring oil-related plays," an analyst report from Jefferies explained.
The report also pointed to the fact oil prices had been leading stocks in Asia so far this year.
HSBC lowered its year-end forecasts for the Chinese and Hong Kong bourses on Tuesday, saying it now expected the Shanghai Composite to rise to 3,200, down from a previous forecast of 3,900.
The bank was now picking a 21,000-point end to 2016 on the Hang Seng Index, down from 24,500.
It cited lower earnings projections and expectations for increased volatility in the markets as being behind its revisions.
Profit-taking weighed on European shares on Tuesday, with some analysts pointing to the risk that heightened concerns about Brexit might add to the already uncertain market backdrop.
West Texas Intermediate was up 6.21% to $31.48 a barrel, while Brent was further ahead at $34.91 a barrel, up 0.63%.
The dollar continued to rise against the pound, up 0.25%, as well as the euro, gaining 0.23%, while the yen dropped 0.79%. Spot gold was up 0.82% to $1,218.60.
In company news, shares in Fitbit slid 14% after the wearable fitness device manufacturer posted an outlook for the current quarter and the full year significantly below expectations on Monday night.
Home Depot shares were up 3% after it recorded a 5.6% increase in sales for the year, which was better than expected and bucked the trend for the retail sector.
Meanwhile Toll Brothers shares dipped marginally after it reported first quarter net income of $73.2m, down from $81.3m the previous year.