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Stock Futures Higher; Personal Spending Jumps

Stock futures were modestly higher early Tuesday. (UPI/Newscom)

Stocks were set to open slightly higher Tuesday as the market returned from a three-day weekend to a couple of positive economic reports.

Futures for the Nasdaq 100, S&P 500 and Dow Jones industrial average were up 0.2%.

Consumer spending grew 1% in April, better than the 0.7% increase economists expected, according to Econoday. Personal income rose 0.4%, in line with forecasts.

The Case-Shiller 20-city home price index climbed 0.9% in March from February and 5.4% from a year earlier. Those figures topped Econoday's estimates.

Apple (AAPL) was one of the most active stocks in extended trading. Shares were off 0.5%. The stock had been rebounding for two weeks from its lowest level since 2014.

Medtronic (MDT) reported operating earnings of $1.27 a share, just above estimates, for its April-ended quarter. Sales rose 4% to $7.6 billion. The medical device maker was unchanged in premarket trading. Shares have been near all-time highs.

In European trading, the German DAX and French CAC 40 were down 0.2%. The FTSE 100 was trading flat. But in Asia, the Shanghai composite surged 3.3%, the Shenzhen composite closed 4.1% higher. The Hang Seng climbed 0.9% and the Nikkei added 1%.