Investors are looking to data on the manufacturing sector Tuesday to see if that part of the economy is holding up and whether the pace of the economic recovery remains strong.
The Institute for Supply Management releases its April manufacturing index at 10 a.m. ET Tuesday. Economists in a Reuters survey expect a reading of 53.0 versus 53.4 in March.
Also at 10 a.m. ET, the Commerce Department will release March construction spending data. Economists forecast a rise of 0.5 percent, compared with a 1.1 percent drop in February.
The S&P 500 closed April with its first monthly decline since November as economic data pointed to a slowing domestic economy and continued flare-ups in the euro zone highlighted the risks of the region's debt crisis.
Investor focus will be dominated by the United States as a number of European and Asian stock markets, including ones in Germany, France and Italy, are closed on Tuesday for the May Day holiday.
U.S. auto sales in April were expected to remain on pace with the previous month, continuing the momentum that saw the appetite for new vehicles drive first-quarter demand to its highest rate in four years.
Reuters contributed to this report.
