US futures slip; results lift Home Depot

New York - US stock index futures edged lower on Tuesday, with investors finding few reasons to buy following a rally that took the S&P 500 to an all-time intraday high.

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

Despite Monday's climb, Wall Street ended off its highs and the S&P failed to close at a record.

While many analysts pin the weakness to harsh winter weather rather than weakening fundamentals, trading are looking for evidence the market's levels are justified.

Confidence is seen dipping slightly from the prior month, while home prices are seen rising 0.6 percent.

The comments will be scoured for insight into the extent to which bad weather has affected economic activity, as well as for confirmation that the Fed will not make any changes to its schedule for trimming stimulus.

Dow Jones industrial average futures lost 30 points and Nasdaq 100 futures slid 5 points.