New York - US stock index futures were higher on Tuesday, indicating a positive start to the fourth quarter, though concerns remained following a partial shutdown of the US government.
* Congress missed a midnight deadline to agree on a spending bill, resulting in up to 1 million workers being put on unpaid leave. If the shutdown continues through the week, the Labor Department's payrolls report will not be released as scheduled on Friday.
* Markets had maintained some hope that a shutdown could be avoided, and shares plummeted on Monday as the deadline approached without any stalemate being broken. However, some market participants viewed any pullback as a buying opportunity, as markets have historically gained after prior shutdowns.
* While an extended shutdown could weigh on economic growth and consumer confidence, any short-term impact may have been priced in during Monday's broad selloff.
In addition, a resolution here could ease tensions for the congressional debate over the debt ceiling in mid-October.
That issue, which could result in a default on US debt if not resolved, is considered more serious for markets.
* S&P 500 futures rose 7.1 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 55 points and Nasdaq 100 futures rose 11 points.
* While the S&P 500 traded under its 50-day moving average for much of Monday's session, it recovered some of its losses late in the day and closed above the level, suggesting some near-term support.
* Equities have been strong performers recently, with major indexes climbing more than 2 percent in September. In the third quarter, the S&P rose 4.7 percent and the Nasdaq soared 10.8 percent in its biggest quarterly gain since the first quarter of 2012.
* Warren Buffett's Berkshire Hathaway Inc will receive Goldman Sachs Inc stock worth nearly $2.15 billion on Tuesday through warrants acquired as part of a deal originally signed during the depths of the 2008 financial crisis.
* Cooper Tire and Rubber Co shareholders have approved the US company's $2.5 billion sale to India's Apollo Tyres Ltd, clearing a major step for the creation of the world's seventh biggest tyre maker.
* Overseas, tensions eased in Italy as dissent from within his People of Freedom Party complicated Silvio Berlusconi's plans to bring down the coalition government of Prime Minister Enrico Letta. Data showing European factory activity grew for the third month in September also lent support to equities. - Reuters