Back in Asia, futures pointed to a slightly lower open for equities in Japan. Nikkei futures traded in Chicago were off 0.05 percent at 19,965 and Osaka futures lower by 0.08 percent at 19,960. The benchmark Nikkei 225 index closed at 19,975.67 in the previous session.
In Australia, SPI futures were down 0.88 percent at 5,638 compared to the S&P/ASX 200’s last close of 5,688.071.
Over in the U.S., stocks closed mostly lower in the Monday session, with earnings reports from large technology names coming in after the market close.
The Dow Jones industrial average slipped 0.31 percent, or 66.9 points, to close at 21,513.17 and the S&P 500 declined 0.11 percent, or 2.63 points, to end at 2,469.91. The tech-heavy Nasdaq Composite rose 0.36 percent, or 23.05 points, to close at a record high of 6,410.81.
On the energy front, oil prices gained more than 1 percent in the overnight session after Saudi Arabia said it would reduce its exports in August as oil producers attempted to tackle the oversupply in global oil markets. The cartel also said Nigeria, which was originally exempt from the OPEC-led production cut, would be capping its output.
Brent crude gained 1.1 percent to settle at $48.60 per barrel and U.S. crude rose 1.3 percent to settle at $46.34.
Meanwhile, the euro softened after the release of soft manufacturing activity indicators. The euro last traded at $1.1637 after hitting as high as $1.1670 earlier in the week, according to Reuters data.
On the economic calendar for Tuesday, monetary policy meeting minutes from the Bank of Japan are due at 7:50 a.m. HK/SIN.
Markets are expected to keep an eye on economic indicators and events in Europe and the U.S. after the end of the Asian trading day, with Germany’s Ifo business climate index and expectations for July due at 4:00 p.m. HK/SIN. Stateside, the FOMC’s two-day meeting will begin later Tuesday.