NEW YORK (TheStreet) -- Stock futures were setting up markets for fresh records at the market open on Tuesday as a rally in Europe distracted investors from mixed earnings at home.
S&P 500 futures were up 0.15%, Dow Jones Industrial Average futures added 0.2%, and Nasdaq futures climbed 0.32%.
Benchmark indexes broke records on Monday with the S&P 500 gaining 0.3% to close at 2,129 and the Dow rising 0.14% to 18,298.
Construction on new U.S. homes spiked 20.2% in April to a rate of 1.14 million, its fastest pace since late 2007. Economists had expected starts to increase to 1.03 million after a revised 944,000 increase in March.
European markets were higher after European Central Bank executive board member Benoit Coeure said the body would increase purchases under its quantitative-easing program in May and June before an expected period of low liquidity in July and August. The central bank currently has bond purchases set at 60 billion euros a month.
Greece is close to a deal with its creditors after four months of negotiations, according to Greek Prime Minister Alexis Tsipras. Tsipras set a June 5 deadline for new funding to be secured before a 1.5 billion euro repayment to the International Monetary Fund falls due.
Retail earnings for the first quarter came in mixed. The world's largest retailer, Wal-Mart (WMT), missed earnings and revenue estimates in its quarter, prompting shares to fall more than 2% in premarket trading. Comparable-store sales gained 1.1%, at the low end of guidance of 1% to 2%.
Home Depot (HD) narrowly beat earnings forecasts, generating net income of $1.16 a share, which was a penny above estimates. Full-year earnings guidance was increased to $5.24 to $5.27 a share from $5.11 to $5.17 a share.
Urban Outfitters (URBN) slumped nearly 15% in premarket trading after net income of 25 cents a share missed estimates by a nickel. Revenue climbed 7.7% to $739 million, below estimates of $757.58 million.
Dicks Sporting Goods (DKS) fell 4.1% after reporting in-line earnings of 53 cents a share in the first quarter. Revenue climbed 9% to $1.57 billion, $10 million better than expected. Same-store sales rose 1%, below estimates, after Golf Galaxy stores reported an 11% decrease in comparable-store sales.
TJX Companies (TJX) added 4.3% after earnings 69 cents a share in its first quarter, 2 cents higher than expected, while revenue of $6.9 billion increased 6.2%.
Apple (AAPL) shares were on watch after the company introduced a new 15-inch MacBook Pro model to its lineup. The tech giant also cut the price of its top-end iMac to $2,299.