NEW YORK (CNNMoney.com) -- A much anticipated deal by Internet bellwether Google and the start of earnings season could give a lift to stocks early Tuesday.

Stock futures, which predict where U.S. markets are likely to open, were up in early trading.

Monday evening Google (Charts) announced a $1.65 billion deal for YouTube, the video sharing and streaming service. Google shares were up 0.6 percent in after-hours trading on the news.

After the bell Tuesday aluminum maker Alcoa (Charts) becomes the first member of the Dow Jones industrial average to report results for the third quarter, as well leading biotech firm Genentech (Charts). Both companies are expected to report a sharp gain in earnings for the period. The next three weeks will see most major companies report results for the period.

Oil prices were down in early trading. U.S. light crude was down 41 cents to $59.55 a barrel in electronic trading, while Brent crude trading in London is 34 cents lower at $60.20.

Treasury prices were slightly lower, lifting the yield on the 10-year note to 4.72 percent from 4.69 percent in trading late Monday.

Stocks in Asia closed higher as markets settled down following North Korea's nuclear test, which rattled markets there Monday. Stocks were also higher in Europe in early trading. The dollar continued its rally against the euro and the yen which followed the North Korea nuclear test.

The only economic report Tuesday is the wholesale inventories reading, due at 10 a.m. ET, which is forecast to show a 0.6 percent rise for August after a 0.8 percent gain in July.

A sharp increase in the supply of goods at this level can signal that manufacturers will slow production ahead, or it could be a sign of slowing consumption by consumers.

More news and information on markets ahead of the U.S. open.