Reports on manufacturing in Europe and China boosted sentiment Tuesday. And many investors are hoping Federal Reserve Chairman Ben Bernanke will announce some kind of assistance Friday for the flagging U.S. economy.
Later Tuesday morning, the Commerce Department will release its monthly report on new-home sales. Economists expect the number of people who bought new homes in July rose slightly.
Roughly two hours ahead of the opening bell, Dow Jones industrial average futures are up 146 points, or 1.3 percent, to 10,993. S&P 500 index futures are up 17 points, or 1.6 percent, to 1,140. Nasdaq 100 futures are up 30 points, or 1.5 percent, at 2,074.