U.S. futures higher ahead of economic reports; Dow Jones up 0.15%

U.S. stock futures pointed to a higher open on Tuesday, as markets eyed the release of U.S. economic reports, while optimism over the announcement of a bailout deal for Cyprus continued to support. 

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.15% rise, S&P 500 futures signaled a 0.14% gain, while the Nasdaq 100 futures indicated a 0.21% increase.

Early Monday, euro zone finance ministers approved a EUR10 billion international bailout for Cyprus that will see the closure of the country’s second largest lender Laiki Bank and inflict heavy losses deposits of more than EUR100,000.

Investors remained cautious however, after the head of the Eurogroup, Jeroen Dijsselbloem, said on Monday that the rescue program agreed for Cyprus represents a new model for resolving euro zone banking problems and other countries may have to restructure their banking sectors.

He later appeared to backtrack, saying Cyprus was a specific case with exceptional challenges.

Dell was expected to remain in the spotlight, following reports Blackstone Group and billionaire Carl Icahn are offering to buy the tech company without retaining Michael Dell as CEO.

Dell edged down 0.07% in pre-market trade.

In the same sector, Intel was said to be making progress in talks with Time Warner, NBC Universal and Viacom to obtain TV shows and films for a first-of-its kind online pay-TV service, sending the company's shares up 0.09% in early trading.

Among Internet-related stocks, Yahoo! Inc. was reportedly preparing to pay about USD30 million to buy Summly, a mobile startup run by a 17-year-old. Summly is a mobile application that summarizes news articles for small-screen devices. 

Following the news, Yahoo shares were up 0.43% pre-market.

Elsewhere, Boeing aircraft manufacturer said it was planning a final 787 test flight in the coming days, after taking the grounded Dreamliner aloft on Monday to evaluate fixes to lithium-ion batteries that overheated on two aircraft earlier this year. 

Across the Atlantic, European stock markets were mixed to higher. The EURO STOXX 50 fell 0.22%, France’s CAC 40 advanced 0.45%, Germany's DAX added 0.13%, while Britain's FTSE 100 dipped 0.01%.

During the Asian trading session, Hong Kong's Hang Seng Index added 0.27%, while Japan’s Nikkei 225 Index dropped 0.6%.

Later in the day, the U.S. was to release government reports on durable goods orders and new home sales as well as a report on consumer confidence.

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