U.S. stock futures fell Tuesday as investors navigated a flood of corporate earnings reports.
Futures for the Dow Jones Industrials shed 52.51 points, or 0.2% to 35,644.
Futures for the S&P 500 lost 13.5 points, or 0.3%, to 4,601.
Futures for the NASDAQ fell back 78.25 points, or 0.5%, to 15,851.
Pharmaceutical giant Merck reported a smaller-than-expected loss and revenue that exceeded expectations thanks to strong Keytruda sales. Merck shares rose 1%. Caterpillar also reported better-than-expected earnings and revenue, but the stock was flat.
Pfizer, meanwhile, posted mixed results as Covid product sales plummeted. Uber also reported mixed numbers, but posted a surprise profit lifting shares more than 4% before the bell.
More than 160 S&P 500 constituents are slated to report their latest quarterly results this week. More than half of the companies in the broad market index have already reported, with 80% posting earnings beats, according to FactSet. This further raises hopes that the economy will be able to avoid a recession as inflation begins to show signs of slowing.
Economic indicators, including job openings and labor turnover numbers from June and the July manufacturing purchasing managers' index will also be released Tuesday.
In Japan, the Nikkei 225 gained 0.9% Tuesday, while in Hong Kong, the Hang Seng dipped 0.3%.
Oil prices gained 65 cents to $81.23 U.S. a barrel.
Gold prices dropped $2.20 to $1,997.80 U.S. an ounce.