NEW YORK (TheStreet) -- U.S. stock futures edged higher on Tuesday after markets cratered a day earlier.
S&P 500 futures were up 0.25%, Dow Jones Industrial Average futures climbed 0.21%, and Nasdaq futures added 0.23%.
Stocks closed sharply lower on Monday on a myriad of concerns: the Federal Reserve's decision to delay an interest rate hike continued to cause unease; China's industrial profits supported fears of a slowdown; and concerns over increased regulatory scrutiny in the biotech sector pressured health care stocks.
U.S. house prices rose 0.6% in July, driven by increases along the West Coast including in Portland and San Diego. The S&P/Case Shiller 20-city composite showed a 5% increase over the past 12 months.
Investors looked ahead to data out Tuesday. Consumer confidence figures for September will be released at 10 a.m. EDT and will likely show a slight deterioration driven by extreme market volatility over the month.
Wall Street was also looking ahead to the highly anticipated monthly release of U.S. jobs numbers out Friday. Economists expect 200,000 jobs to have been added to nonfarm payrolls in September, up from 173,000 in August. The unemployment rate is forecast to remain steady at 5.1%.
San Francisco Fed President John Williams has joined the chorus of Fed members arguing for a rate increase later this year. Williams said near-full employment and rising home prices as reasons to tighten monetary policy for the first time in a decade.
"I don't think we are at a tipping point yet -- but I am looking at the path we're on and looking out for potential potholes," Williams said in a speech at the UCLA Anderson School of Management. "I am starting to see signs of imbalances emerge in the form of high asset prices, especially in real estate, and that trips the alert system."
Yahoo! (YHOO) will charge ahead with a plan to spinoff its stake in Alibaba (BABA) - Get Report despite not having received approval from the Internal Revenue Service. The risky move could cost Yahoo! billions if the IRS challenges the spinoff in a future audit. Earlier this month, the IRS denied a request for a favorable ruling of the plan. Yahoo! expects to complete the $22 billion spinoff by the end of the year.
IHS (IHS) shares were on watch after the analytics company reported a better-than-expected third quarter. Profit of $1.56 a share beat estimates by 9 cents, while revenue jumped nearly 6% to $587.95 million.