U.S. stock index futures furthered already steep declines after data had orders for U.S. durable goods unexpectedly falling in December, adding to a bearish view as corporate earnings disappointed.
Earnings season is poised to gather steam this week, with some of Wall Street's biggest names lined up to report.
Apple (AAPL) releases its earnings after the close on Tuesday, with analysts expecting the tech firm to beat consensus.
Yahoo (YHOO), Electronic Arts (EA), AT&T (NYSE:T) and Amgen (AMGN) are all also due after the close. Before market open, investors will be watching Pfizer (PFE), 3M (MMM), Caterpillar (CAT), Procter & Gamble (PG), American Airlines Group (AAL), Coach (COH), Lockheed Martin (LMT), Bristol-Myers Squibb (BMY).
Pfizer
fell sharply in premarket trading, despite beating analyst
expectations, after the group said 2015 earnings would come in below
expectations.
P&G, the
world's largest household products maker, said foreign exchange
headwinds would hit fiscal sales in 2015 by 5 percent and net earnings
by 12 percent, adding that the "outlook will remain challenging".
Quarterly profits in the group fell around 31 percent as a result of a
stronger dollar.
Chemical maker DuPont said it
expects to buy back shares up to $4 billion, using the dividend from the
spinoff of its performance chemicals unit. Net income rose $683 million
or 74 cents per share in the fourth quarter of last year, but the group
gave a disappointing outlook for 2015 due to dollar strength.
Caterpillar (CAT)
posted earnings of $1.35 a share on revenue of $14.24 billionPoor
weather conditions have brought New York and other areas in the
north-east to a standstill, however extreme forecasts have been
downgraded, with some meteorologists predicting less snowfall than
initially expected.
The
travel ban on all non-emergency vehicles, enforced in New York City and
surrounding counties on Monday night, was lifted early on Tuesday.
Also
due for release will be the Conference Board's consumer confidence
index for January at 10:00 am ET, which is expected to record its sixth
consecutive monthly rise to a new post-crisis high.
New
home sales data for December at 10:00 am ET and the Richmond Fed's
manufacturing index for January is also scheduled for Tuesday.
In
Europe, the new anti-austerity Greek prime minister Alexus Tsipras was
sworn in Monday and is set to meet with finance ministers from his
fellow euro zone countries to begin negotiations on financial support
and debt repayments.
European
markets were lower in morning trade on Tuesday, as investors focused on
corporate earnings rather than the results of Greece's parliamentary
election
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