Meanwhile, economic releases could affect investor sentiment. The U.S. Census Bureau will report April retail sales at 8:30 a.m. ET. At the same time, the Bureau of Labor Statistics will release import and export price data.
It's expected to be a relatively quiet day on the earnings front. Fossil(FOSL) will report earnings after the closing bell. Big retailers such as Wal-Mart(WMT) and Macy's(M) will be reporting later in the week.
Shares of DirecTV(DTV) were surging by roughly 5% in premarket on reports that AT&T(T) may make a bid to buy the company.
Shares in Airbus(EADSF) were rising by 5% in Europe after the firm reported better-than-expected quarterly results.
Investors will also be focusing on developments in the pharmaceutical industry Tuesday. The American drug maker Pfizer(PFE) wants to buy Britain's AstraZeneca(AZN) and both CEOs will appear before a U.K. parliamentary committee to answer questions about the potential takeover.
In Asia, India's benchmark Mumbai Sensex index surged to a record high Tuesday after election exit polls indicated that voters will deliver a mandate to Narendra Modi and the pro-business Bharatiya Janata Party.