(RTTNews) -  U.S stock futures point to a slightly higher opening Tuesday morning as traders await a slew of economic data including preliminary GDP numbers for the third quarter, consumer confidence index, and home price index to assess the status of the economy. Also the minutes of the FOMC meeting will also be in traders' focus. Some positive economic readings from Europe firmed up recovery hopes, helping to offset negative sentiment generated by reports that China may clamp down on bank lending.

As of 6.15 am ET, the Dow futures were up 13.00 points, the S&P futures were up 2.40 points, and the tech-heavy Nasdaq 100 futures were up 1.25 points.

In economic news, traders await the preliminary GDP report for the third quarter from the Bureau of Economic Analysis at 8.30 am ET. Economists expect the preliminary Q3 GDP growth to come at 2.9%, slightly weaker than the 3.5% growth estimates earlier.

Traders will focus on the S&P/Case-Shiller home price index for September, slated for release at 9.00 am ET. Economists expect a 9.10% year-over-year decline in the 20-city composite house price index for September.

Also on traders' radar will be the consumer confidence index for November to be released by the Conference Board at 10.00 am ET. Economists expect the consumer confidence index, which unexpectedly declined to 47.7 in October from 53.4 in September, to edge down to 47.5 for the month.
Traders will also try to read between the lines of the minutes of the FOMC meeting held on 3-4 November, which will be released at 2.00 pm ET, to get clues about the Fed's perception of the economy.

In other economic news from around the world, the Chinese Central Bank has advised banks to exercise restraint in lending and also curb lavish lending. The Japanese Central Bank raised its economic assessment for the third straight month and stated that the economy is picking up mainly due to various policy measures taken at home and abroad, although the momentum of self-sustaining recovery in domestic private demand remains weak.

The Ifo Institute for Economic Research stated that the German business climate index rose to 93.9 in November from 91.9 recorded in October. Economists had forecast an increase to 92.5 for the month.

Statistical office Insee said that the business confidence indicator for the French manufacturing industry stood at 89 in November, unchanged from October. Economists had forecast a reading of 91.

The Federal Statistical Office in Germany revealed that the largest Eurozone economy expanded 0.7% in the third quarter from the previous quarter, following the 0.4% increase seen in the second quarter. According to the report, the German economy rebounded in the third quarter on investment and strong external demand, while private spending had a downward impact pointing towards a weakening stimulus from the car srappage scheme that pushed the consumption in the first two quarters of 2009.

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