US futures higher after selloff

New York - US stock index futures advanced on Tuesday, a day after the S&P 500 suffered its biggest drop in two months, as investors prepared for retail sales data and the first round of earnings from major banks.

The US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS

Almost 10 out of every 11 earnings pre-announcements for the current earnings season from S&P 500 companies have lowered estimates, according to Thomson Reuters data, which would be the lowest on record if it continues.

Wells Fargo & Co results are due later on Tuesday and will also be monitored closely by investors.

Dow Jones industrial average futures gained 16 points and Nasdaq 100 futures added 3.25 points.

Google Inc gained 1 percent in light premarket trade after the world's largest online search engine announced late Monday a $3.2 billion deal to buy smart thermostat and smoke alarm maker Nest Labs Inc.