By Scott Kanowsky 

-- U.S. stocks are seen opening higher on Tuesday following a volatile previous session marked by concerns over the collapse of Silicon Valley Bank, while investors looked ahead to the release of all-important inflation data.

At 07:00 ET (11:00 GMT), the contract was up 102 points or 0.32%, traded 13 points or 0.34% higher, and climbed 130 points or 0.26%.

The downfall of SVB has hit the banks - and regional players in particular - hard despite regulators providing the sector with emergency liquidity and reassurances of support. The impact has subsequently spread to other parts of the market, although the tech-heavy ended Monday in the green as traders made bets on a possible slowdown in Federal Reserve interest rate hikes.

Focus is now on inflation data, due later in the day, for more cues on how the Fed could potentially proceed with monetary policy. Fed Fund futures prices show that markets have abandoned bets on a 50 basis point hike by the Fed next week, with a majority of traders now positioning for a 25 bps raise.

Federal Reserve Board governor is also set to speak today.

Stocks in the U.S. are receiving a mixed handover from Europe. The regional is trading marginally higher, although it still faces downward pressure from banking stocks.

Earlier, Japan's dropped by over 2%, as markets fretted over the exposure Japanese financial firms have to U.S. bonds. Other bank-heavy indexes also logged heavy losses, with South Korea's down over 2%, while Indonesia's led losses across Southeast Asia with a 2.1% dip.

China's and indexes lost 0.6% and 0.7% respectively, while Hong Kong's slid 2.2% as optimism over more government stimulus measures was largely offset by heavy selling in local bank stocks.

In corporate news, regional U.S. banks will likely remain in the spotlight. Shares in these lenders steadied in premarket trading but managed only a weak rebound after a warning about their credit rating.

Elsewhere, oil markets declined with traders gauging the upcoming inflation data and the fallout from the crisis surrounding the failure of SVB. futures traded 2.01% lower at $73.30 a barrel, while the contract moved down by 1.61% to $79.47 a barrel.

Additionally, fell 0.47% to $1,908.85/oz, while traded 0.14% lower at 1.0713.