Check here for the latest market moves. U.S. stock index futures pointed to a sharply higher open on Tuesday, recovering from the plunge seen in global stocks on Monday as mayhem in Chinese markets and interest rate fears dominated markets. The New York Stock Exchange invoked Rule 48 for the second day in a row, Dow Jones reported. The exchange used the rule before Monday's open after futures for several major averages hit limit down. Before this week, Rule 48 was most recently invoked in January 2015. In all, Rule 48 has been invoked 67 times since it was approved in 2007, according to an NYSE spokeswoman. The goal of the rule is to ease market volatility.

Read MoreWhat is Rule 48? Dow futures briefly rose more than 600 points in premarket trading, implying a more than 450-point bounce at the open and shrugging off deeper selling in China's mainland stock market. Read MoreMore selling may be ahead, but bull market called not dead yet

Trader on the floor of the New York Stock Exchange. Brendan McDermid | Reuters