Futures Dip Following Back-to-Back Gains

Stock futures dipped slightly Tuesday as investors struggled to continue a strong start to the week during a busy stretch of corporate earnings.

Futures for the Dow Jones Industrials lurched lower 100 points, or 0.3% early Tuesday to 33,627.

Futures for the S&P 500 lost 11 points, or 0.3%, to 4,025.50.

Futures for the NASDAQ Composite faded 48.25 points, or 0.4%, to 11,885.75.

Earnings season continues Tuesday with results from software giant Microsoft after the bell.

General Electric traded more than 2% higher in the pre-market after the industrial giant posted quarterly results that beat analyst expectations.

GE earned $1.24 per share on revenue of $21.79 billion for the previous quarter. Analysts expected earnings of $1.13 per share on revenue of $21.59 billion, according to Refinitiv.

AMD shares slipped more than 2% after Bernstein downgraded the semiconductor manufacturer to market perform from outperform. The firm cited worsening personal computer market trends for the downgrade.

Shares of Zions Bancorp fell more than 2% despite the regional bank beating earnings estimates for the fourth quarter. Zions reported $1.84 in earnings per share, above the $1.65 expected by analysts. Net interest income also beat estimates.

In Japan, the Nikkei 225 advanced 1.5% Tuesday, while in Hong Kong, markets were closed for the Lunar New Year.

Oil prices gathered 23 cents to $81.85 U.S. a barrel.

Gold prices picked up $11.50 to $1,940.10 U.S. an ounce.