BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Housing Starts data is the highlight on Tuesday and that might attract some attention. Trading activity is likely to remain subdued.
As part of Fed's two-day meeting, Fed Chair Press Conference will be held at 2.30 pm on Wednesday. FOMC Forecasts is scheduled at 2.00 pm ET.
Asian shares finished mostly up, while European shares are trading higher.
Early signs from the U.S. Futures Index point to a positive open for Wall Street.
As of 7.50 am ET, the Dow futures are surging 144 points, the S&P 500 futures are climbing 17.50 points and the Nasdaq 100 futures are advancing 71.25 points.
The U.S. major averages gave back ground going into the close but remained in positive territory on Monday. The Nasdaq climbed 48.37 points or 0.7 percent to 7,845.02, the Dow edged up 22.92 points or 0.1 percent to 26,112.53 and the S&P 500 inched up 2.69 points or 0.1 percent to 2,889.67.
On the economic front, the Commerce and Housing & Urban Development departments Housing Starts data for May will be issued at 8.30 am ET. The consensus is for an increase of 1.239 million, up from 1.235 million in the prior month. Permits level is expected to be 1.290 million, down from 1.296 million in the previous month.
Redbook data, a weekly measure of comparable store sales at chain stores, discounters, and department stores, will be released at 8.55 am ET. In the prior week, the store sales were up 5.0 percent.
52-week Treasury bill auction will be held at 11.30 am ET.
Asian stocks ended mostly higher on Tuesday. Chinese shares ended little changed in thin trade. The benchmark Shanghai Composite index ended marginally higher at 2,890.16 while Hong Kong's Hang Seng index climbed 1 percent to 27,498.77.
Japanese shares hit a 1-1/2-week low. The Nikkei average dropped 151.29 points or 0.72 percent to 20,972.71 while the broader Topix index closed 0.72 percent lower at 1,528.67.
Australian shares advanced. The benchmark S&P/ASX 200 index climbed 39.10 points or 0.60 percent to 6,570 while the broader All Ordinaries index ended up 38.50 points or 0.58 percent at 6,647.90.
European shares are trading up. Among the major indexes in the region, the CAC 40 Index of France is climbing 82.43 points or 1.52 percent, the German DAX is advancing 166.56 points or 1.38 percent, the U.K. FTSE 100 Index is adding up 70.64 points 0.97 percent and the Swiss Market Index is up 83.90points or 1.69 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is climbing 1.42 percent.
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