(By Balachander) U.S. stock index futures pointed to a higher open on the Wall Street amid expectations that the European Central Bank's (ECB) bond-buying plan would address the euro zone's debt woes.
Mini Dow Industrial Average futures gained 47 points to 13,114. The Nasdaq futures rose 19.25 points to 2,705.75. Standard and Poor's 500 futures added 6.90 points to 1,396.80.
With no major U.S. economic data due on Tuesday, investors weighed a set of corporate news and news out of Europe.
In European news, a report showed that German factory orders fell more-than-expected in June. The Federal Ministry of Economy and Technology said factory orders declined 1.7 percent, coming in worse than expectations of a 0.8 percent fall. Another data showed that U.K. industrial production tumbled 2.5 percent in June following a 1 percent in May.
On Monday, U.S. stocks closed on a positive note as investors continued to digest a strong jobs data released last week.
Hot Stocks Of The Day: JNJ, PFE, CVS, CHK, SIRI, FOSL
In corporate news, Johnson & Johnson (NYSE:JNJ) and Pfizer Inc. (NYSE:PFE) announced that they will discontinue further studies of an Alzheimer's treatment as study results did not meet two co-primary clinical targets. JNJ and PFE lost 1.00 percent and 1.48 percent, respectively in premarket.
CVS Caremark Corp. (NYSE:CVS) raised its earnings forecast for the full year after the Rhode Island-based health care company reported better-than-expected quarterly earnings helped by jump in revenue. Shares added 2.54 percent in premarket.
Chesapeake Energy Corp. (NYSE:CHK) jumped 5.03 percent in premarket after the Oklahoma-based natural-gas producer posted a jump in second-quarter earnings on gains from sales of assets and hedging activities. The company's revenue breezed past consenus estimates.
Sirius XM Radio Inc. (NASDAQ:SIRI) rose 2.95 percent after the New York-based provider of satellite radio services raised its EBITDA guidance following a jump in quarterly earnings on tax gains.
Fossil Inc. (NASDAQ:FOSL) soared 18.64 percent in premarket after the fashion accessories company posted a 12 percent increase in quarterly earnings on a double-digit rise in sales as well as strong growth in its geographical segments. Results exceeded Wall Street expectations.
European markets traded mixed, with Germany's DAX adding 0.51 percent to trade at 6,953.99. France's CAC40 gained 0.77 percent at 3,427.79. U.K.'s FTSE 100 edged 0.04 percent lower to trade at 5,806.45.
Among Asian markets, China's Shanghai Stock Exchange Composite Index rose 0.13 percent to finish at 2,157.62. Japan's Nikkei 225 added 0.88 percent to end at 8,803.31. Hong Kong's Hang Seng Index advanced 0.37 percent to end at 20,072.55. India's BSE Sensex finished at 17,601.78, up 1.08 percent.
Ahead of the opening bell, crude oil futures rose 0.52 percent to $92.68 per barrel. Gold futures added 0.18 percent to $1,619.100 per ounce.
In the currency market, the euro inched up 0.13 percent against the U.S. dollar to 1.2417 and the British pound gained 0.40 percent against the greenback to 1.5665. The dollar advanced 0.36 percent against the Japanese yen to 78.5300.