U.S. stock futures on Tuesday pointed to a modestly higher open as investors stayed in wait-and-see mode, but that still put the market on track to bounce back from the previous day's dip.
A fresh reading on new-home sales is due just after the opening bell, while home builder Toll Brothers Inc.(TOL) and electronics retailer Best Buy Co.(BBY) rose and fell, respectively, after posting earnings ahead of the bell.
S&P 500 futures gained 6.95 points, or 0.3%, to 2,052.25, while Dow Jones Industrial Average futures rose by 54 points, or 0.3%, to 17,524. Nasdaq-100 futures tacked on 17 points, or 0.4%, to 4,369.50.
On Monday, the S&P 500 closed 0.2% lower, while the Dow and Nasdaq Composite both shed 0.1%, as Federal Reserve officials continued to signal that U.S. interest rates could rise as soon as next month.
"Investors are very much in wait-and-see mode right now with the next month bringing two very notable risk events, the EU referendum in the U.K. and a possible rate hike from the Fed," said Craig Erlam, Oanda's senior market analyst, in a note Tuesday. "Investors have been in denial about the potential for a summer rate hike for most of this year, but appear to be coming around to the idea," he added. The market sees a 30% chance of a June hike and a 46% chance of a July move, according to the CME Group's FedWatch tool.