U.S. stock futures ticked higher on Tuesday, as investors returned for a holiday-shortened trading week focused on talks between the U.S. and Russia aimed at ending the war in Ukraine.

By 06:11 ET (11:11 GMT), the Dow futures contract had added 54 points or 0.1%, S&P 500 futures had edged higher by 21 points or 0.3%, and Nasdaq 100 futures had gained 86 points or 0.4%.

The main averages on Wall Street were closed on Monday in observance of the Presidents Day holiday.

Global markets provided a strong handover, with stocks in Europe hovering near record high levels, bolstered in particular by defense names. European leaders have said they would bump up military spending and become the main guarantor of Ukraine's security, with analysts noting signals from the White House that the U.S. may no longer be relied upon to backstop the continent's defense.

Shares in Hong Kong also climbed to almost three-year highs as traders eyed a rare meeting between Chinese President Xi Jinping and domestic business leaders. Elsewhere, the Reserve Bank of Australia slashed interest rates by the first time in four years, although policymakers flagged that it remains too early to declare victory over inflation and further cuts are not guaranteed.