U.S. stock index futures pointed to a higher open Tuesday, with investors still focused on dovish comments by Federal Reserve Chairman Ben Bernanke who suggested more stimulus could be on the way to boost the U.S. economy.
Stocks in Europe and Asia were lifted by Bernanke’s comments as well.
Bernanke speaks again on Tuesday, at 12:45 p.m. at George Washington University in the third of four guest lectures.
New York Fed President William Dudley also testifies at 10 a.m. before the House Financial Service’s Subcommittee on the European sovereign crisis and the Fed’s role.
James Bullard, president of St Louis Federal Reserve Bank struck a less dovish tone than Bernanke on Tuesday however.
He told CNBC on Tuesday that a third round of Treasury purchases was not necessary unless the U.S. economy deteriorates further. Bullard said he would like to see the Federal Reserve resume a «more normal monetary policy as soon as possible» because it has detrimental effects on the economy.
The January Case-Schiller home price index, a leading measures for the U.S. residential housing market, is due at 9 a.m. on Tuesday and will be closely watched in light of Bernanke’s comments.
March consumer confidence is the only other major economic report expected on Tuesday.
Treasury Secretary Timothy Geithner testifies before the House Financial committee on the Treasury’s 2013 budget.
