Wall Street turns higher as banks report earnings

U.S. futures turned higher Tuesday as large banks including Citigroup reported earnings that beat expectations.

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Johnson & Johnson rose after posting third-quarter earnings that topped estimates, with the supplier of consumer products also boosting its 2014 outlook.

JPMorgan Chase shares fell in premarket trading after shareholder.com posted an apparently authentic document showing adjusted earnings of $1.36 billion versus expectations of $1.38 billion. The bank reported revenue of $25.16 billion compared with estimates of $24 billion. The bank had posted a rare loss in the same quarter last year.

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Citigroup shares gained in premarket trading after the bank reported quarterly earnings and revenue that beat analysts' expectations. Wells Fargo stock was down after it reported quarterly earnings and revenue in line with analysts' projections.

Chip manufacturer Intel reports after Tuesday's close.