Stock futures hit record highs amid retail earnings

U.S. stock index futures rose to record intraday highs on Tuesday as oil prices surged and investors assessed earnings from top U.S. retailers.

Wal-Mart's shares were up 1.5 percent at $70.42 in premarket trading after the world's largest brick-and-mortar retailer reported a higher-than-expected rise in comparable store sales.

Macy's is scheduled to report before the market opens.

The central bank will release the minutes of its latest policy meeting on Wednesday.

The dollar rose 0.5 percent after Cleveland Fed President Loretta Mester said on Sunday that she would be comfortable raising rates if the U.S. economy kept performing. Gold prices fell 0.6 percent.

Wall Street was closed on Monday for the Presidents Day holiday.

Kraft Heinz shares fell 4.3 percent on Tuesday after it walked away from its $143 billion offer to buy Unilever, a day after the Anglo-Dutch company rejected the proposal. Unilever's U.S.-listed shares were down 8.4 percent.