Stocks are indicated higher on diminishing concerns about the Dubai debt crisis. Thirty minutes before the start of trading in New York, stock index futures indicate that the Dow Jones Industrial Average might add 50 or 60 points at the open.

The Dow traded in negative territory throughout most of Monday’s trading session, but finished up 35 points after a report released late the day said that Dubai World’s affected debt was a less-than-expected $26 billion.

Major averages are mostly higher Tuesday. In Asia, Japan’s Nikkei gained 2.3 percent and Hong Kong’s Hang Seng added 1.3 percent. A 1.9 percent advance in Germany’s DAX is leading European benchmarks higher.

In the US, the focus turns to construction spending, manufacturing [ISM] and pending home sales numbers at 10:00 a.m. eastern time.

Bonds have lost some of the flight-to-safety bid, as stocks recover and players in the bond pits await the data. The benchmark ten-year Treasury is down 6/32nd and yields 3.22 percent.

The dollar gained .52 to 86.82 against the yen. The euro jumped .0086 to 1.5091 on the buck.

Energy, metals, and mining stocks are likely to see early strength after crude oil gained $1 to $78.28 and gold rose $11.50 to $1193.80 an ounce.

The auto makers will be in the spotlight ahead of auto and truck sales numbers due out this afternoon.

Lowe’s (LOW) and Home Depot (HD) are likely to open higher after the Wall Street Journal reported that the Obama administration is considering home improvement incentives. Guess (GES), Staples (SPLS), and Altera (ALTR) are up on earnings news. AIG is rebounding from a steep loss suffered yesterday on news it is moving forward with plans to IPO American Life Insurance Company.