By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- U.S. stock futures indicated a higher opening Tuesday, driven, in part, by hopes for central-bank stimulus as a continued pageant of quarterly results roll out.

U.S. markets were closed on Monday in observance of the Martin Luther King Jr. holiday, and the only economic data on tap Tuesday will gauge the mood in the key home building industry.

Futures for the Dow Jones Industrial Average (DJH5) jumped 81 points, or 0.5%, to 17,513, and those for the S&P 500 index (SPH5) climbed 11.3 points, or 0.6%, to 2,024.20. Nasdaq-100 futures (NDH5) were rose 28 points, or 0.7%, at 4,162.

Also before the open, prominent investment bank Morgan Stanley reported lower-than-expected profit and revenue.

"With investors crying out for more stimulus from China and the eurozone to keep the global economic train on track, the increasing likelihood they will get their wish sooner rather than later is giving equities a short-term boost," wrote Mike McCudden, head of derivatives at stockbroker Interactive Investor, in a Tuesday note.

Overnight, China said gross domestic product expanded 7.4% last year, beating market expectations of 7.2%. Still, that marked the slowest rate of growth since 1990 for the world's second-largest economy. Meanwhile, European equities were trading around seven-year highs ahead of an expected unleashing of a sovereign bond-buying plan by the European Central Bank when policy makers meet on Thursday.

On Wall Street's agenda Tuesday were Morgan Stanley's quarterly results (MS). The bank's shares fell 3% ahead of the bell after reporting fourth-quarter results missed analyst expectations. Net income was 47 cents a share and adjusted per-share earnings came in at 40 cents. Revenue totaled $7.8 billion.

Delta Air Lines Inc. (DAL) beat estimates,reporting fourth-quarter revenue of $8.24 billion, up 4.6%.

Halliburton Co. (HAL) reported better-than-expected results, but warned that 2015 could be a challenging year for the oil-field servicing company, which is planning to acquire Baker Hughes Inc. (BHI)

Consumer products heavyweight Johnson & Johnson (JNJ).ahead of the opening bell, is expected to report higher earnings and revenue.

At 10 a.m., the National Association of Home Builders is due to release its gauge of confidence among home builders for this month.

Also at 10 a.m. Federal Reserve Governor Jerome Powell, a member of the Federal Open Market Committee, is slated to speak at the Brookings Institution on improving financial market conduct and structure.

U.S. stocks on Friday ended a turbulent session higher, with the S&P 500 (SPX), the Dow Jones Industrial Average (DJI) and the Nasdaq Composite Index (RIXF) each gaining at least 1%. Stocks had been aided a rally in oil prices and calmer currency markets, but the indexes still marked a fourth consecutive weekly loss.

Stocks to watch:Halliburton Co.'s(HAL) stock rose 2.5% before the regular session , with the oil-services company's fourth-quarter adjusted earnings of $1.19 a share beating expectations of $1.10 a share.

SAP SE (SAP) dropped its midterm profit margin forecast and reported a 1% decline in fourth-quarter profit, hurt by its shift to cloud-based products.

Google Inc. (GOOG) is close to investing about $1 billion in Space Exploration Technology Corp. to support its effort to deliver Internet access via satellites, according to The Wall Street Journal. Space X is backed by Tesla Motors Inc. (TSLA) chief Elon Musk.

Twitter Inc.(TWTR) in a blog post Tuesday said it's buying India-based mobile-marketing company ZipDial for an undisclosed sum.

DreamWorks Animation SKG Inc.(DWA) last week started letting workers go, The Wall Street Journal reported.

Other markets: Chinese stocks rose nearly 2% after Monday's selloff and Japan's Nikkei Average closed 2.1% higher, its strongest percentage gain in a month.

Gold futures (GCG5) were up more than 1%. Oil futures (CLH5) fell 3%, trading below $48 a barrel.

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