* Futures up: Dow 179 pts, S&P 19.5 pts, Nasdaq 42.5 pts
By Yashaswini Swamynathan
June 28 (Reuters) - U.S. stock index futures rose sharply on Tuesday as investors rushed to pick up Brexit-hit stocks after Wall Street crumbled under fear and uncertainty to its worst two-day fall in 10 months.
* Banks, which were the worst hit since Britain voted to leave the European Union on Thursday, were among the most attractive stocks for bargain hunters.
* Morgan Stanley rose 2.5 percent to $24.20 in premarket trading, while Bank of America and Citigroup rose about 2 percent.
* Global equities went into a free fall on Friday after the vote as investors unsure of its consequences sought shelter in safe havens such as gold and the Japanese yen.
* Wall Street closed lower on Monday with all three indexes lower for the year.
* A rebound in oil prices on Tuesday signaled an appetite for riskier assets, while gold lost its two-day shine and fell 1.1 percent.
* Battered European shares rose 2.4 percent after having dropped more than 10 percent on Friday.
* While investors do not expect the U.S. Federal Reserve to raise short-term interest rates anytime this year, they will keep an eye on economic data that can steer the Fed’s sentiment.
* The U.S. Commerce Department is expected to release its third estimate of first-quarter gross domestic product, which is likely to have increased 1 percent, compared with the previous reading of 0.8 percent. The report is scheduled for release at 8:30 a.m. ET (1230 GMT).
* Consumer confidence is expected to have risen to 93.3 in June from 92.6 in May. The data is expected at 10:00 a.m. ET (1400 GMT).
* Technology stocks, which were also hard hit by Brexit, fought back on Tuesday. Apple and Amazon.com were both up about 1 percent. Micron rose 2.1 percent and was the biggest percentage gainer among S&P components.
Futures snapshot at 7:14 a.m. ET:
* Dow e-minis were up 179 points, or 1.05 percent, with 39,627 contracts changing hands.
* S&P 500 e-minis were up 19.5 points, or 0.98 percent, with 262,272 contracts traded.
* Nasdaq 100 e-minis were up 42.5 points, or 1.02 percent, on volume of 30,814 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Don Sebastian)