* Futures up: Dow 70 pts, S&P 7.25 pts, Nasdaq 19.75 pts
By Abhiram Nandakumar
Dec 29 (Reuters) - U.S. stock index futures were higher on Tuesday as Brent crude steadied above the 11-year low it hit last week.
* Crude prices edged up as colder weather entered Europe and North America, raising hopes of a short-term uptick in the tepid demand that has plagued the commodity this year.
* Global stocks rose, as did the price of gold, as the dollar softened. U.S. stocks closed lower on Monday as a 3 percent drop in oil prices led to a slide in energy stocks.
* Trading volumes are expected to remain thin this week as the year winds down.
* The S&P 500 slipped back into negative turf for the year after Monday’s selloff, while the Dow Jones industrial average is about 2 percent lower. The Nasdaq Composite, however, is up 6.4 percent.
* Data scheduled for release on Tuesday includes the Conference Board’s reading of consumer confidence for December at 10:00 a.m. ET (1500 GMT). The index is expected to rise to 93.8 after falling to its lowest since September 2014 in November.
* Pep Boys shares were up 6.3 percent at $18.50 in premarket trading after the auto parts retailer’s board found Carl Icahn’s latest offer superior to the deal it accepted from Japan’s Bridgestone.
* Dow component Nike was up 1.1 percent at $64.50. The stock surged to record highs last week after reporting strong orders. The world’s largest sportswear maker is the best performer on the Dow this year, gaining 32.7 percent.
Futures snapshot at 6:52 a.m. ET:
* Dow e-minis were up 70 points, or 0.4 percent, with 11,732 contracts changing hands.
* S&P 500 e-minis were up 7.25 points, or 0.35 percent, with 57,783 contracts traded.
* Nasdaq 100 e-minis were up 19.75 points, or 0.43 percent, on volume of 11,780 contracts. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Don Sebastian)