McDonald's' shares turned higher after an initial fall in premarket trading after the fast food chain reported a lower quarterly profit.
Overall, 148 S&P 500 companies (around a third of the index's market capitalization) and 11 Dow components are scheduled to have reported earnings by the end of this week.
Pharmaceutical stocks will likely attract interest on Tuesday, as the industry appeared swept up in a wave of mergers and acquisitions.
GlaxoSmithKline and Novartis announced a $16 billion commercial tie-up on Tuesday, and separately, Novartis said it would sell its animal health division for around $5.4 billion to the U.S.'s Eli Lilly. This followed a merger bid by bio tech firm Valeant for Botox-maker Allergan late on Monday, and came as rumors swirled of a $101 billion bid for AstraZenca by Pfizer.
(Read more: Pharma M&A is back – can it cure the sector's ills?)
Tuesday's non-corporate data focus will be on the housing market, with a third consecutive monthly drop in existing home sales seen in March. The FHFA house price index is also due, along with the Richmond Federal Reserve manufacturing index.