Stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500 up 0.5 percent, Dow Jones futures up 0.4 percent and Nasdaq 100 futures up 0.4 percent at 4:10 a.m. EDT.

Investors' focus will be on quarterly results from Wal-Mart Stores expected to show the retail giant losing shoppers to other retailers in an improving economy.

Other companies due to report earnings on Tuesday include Abercrombie & Fitch , Hewlett-Packard and Home Depot .

On the economic front, investors will keep an eye on the April Producer Price Index and housing starts and permits for last month.

U.S. crude futures rose more than $1 a barrel on Tuesday, rebounding strongly from a five-month low on Monday on concerns about the health of the global economy.

European stocks gained 1 percent in morning trade on Tuesday, led by banks and miners as euro zone debt worries eased following a meeting of the region's finance ministers during which they played down differences on how a massive bailout plan should be deployed.

Investors were digesting a Reuters poll that found Japanese manufacturers turned optimistic for the first time in two years in May, providing further evidence of the economy's continuing recovery led by Asian demand.

Mitsubishi UFJ Financial Group <8306.T>, Japan's largest bank by assets, said on Tuesday it returned to profit in the past year due to smaller writedowns, and was targeting annual growth below market expectations.

Australian miner Macarthur Coal rejected Peabody Energy's fourth bid as too cheap and said it had failed to attract support from its top two shareholders.

Boeing said it would boost production of its narrow-body 737 model to 34 aircraft per month, citing strong demand from airlines as they rebound from a steep downturn in 2008 and 2009.

Agilent Technologies Inc's quarterly results beat market expectations, on strength across all its markets, and the electronics-testing equipment maker gave a strong profit forecast for the third quarter.

Carl Icahn has more than doubled his stake in biotechnology giant Genzyme Corp , where he is trying to get a board seat, the billionaire activist investor reported on Monday.

United Parcel Service , the world's largest package delivery service, said on Tuesday it expected strong growth in the second quarter in its Asia business. The company said the volcanic ash cloud hampering air traffic in Europe did not present any issues for its business.

A consortium bidding for Fidelity National Information Services Inc pulled out on Monday because of disagreement over price, derailing what would have been the biggest buyout since the credit crisis, three sources familiar with the situation said.

Bob Toll, co-founder and chief executive of the U.S. luxury homebuilder bearing his name and best known for its McMansions, announced his resignation on Monday, and will be replaced by a non-family member who has worked for the company for 20 years.

U.S. stocks staged a comeback in late trading on Monday as bargain hunters snapped up beaten-down shares, setting aside concerns that efforts to tackle the euro zone debt crisis could stifle the global economy.

The Dow Jones industrial average <.DJI> edged up 5.67 points, or 0.05 percent, to end at 10,625.83. The Standard & Poor's 500 Index <.SPX> added 1.26 points, or 0.1 percent, to 1,136.94. The Nasdaq Composite Index <.IXIC> rose 7.38 points, or 0.3 percent, to close at 2,354.23.

(Reporting by Blaise Robinson; Editing by Dan Lalor)

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