Futures advance, lifted by upbeat earnings; NFLX slumps
U.S. stock index futures were higher Tuesday, a day after the S&P 500 logged its third-straight all-time high, as investors cheered better-than-expected earnings from several Dow components.
DuPont rallied after the chemical company edged past earnings expectations by a penny and said it is exploring selling its performance chemicals unit. Fellow Dow component Travelers gained after the insurance company reported quarterly results that topped forecasts, as the firm saw fewer catastrophic losses.
And United Technologies edged higher after the multinational conglomerate beat profit estimates and lifted the lower end of its yearly forecast and said it is well positioned for a return to organic growth in the second half of the year.
Texas Instruments climbed after the chipmaker posted better-than-expected quarterly results and handed in current-quarter guidance that exceeded expectations.
Netflix tumbled after the online entertainment company posted a smaller-than-expected quarterly subscriber growth, though the company topped earnings expectations.
After the closing bell, investors will be focused on Apple as the iPhone maker is due to post results. Analysts expect the tech giant to post earnings of $7.32 a share on sales of $35 billion.
(Read More: Telecoms tie-ups: Over $10 billion to change hands)
In global markets, Chinese stocks boosted shares across Asia following market rumors that China could take stimulus measures to boost its economy.
Chinese shares outperformed after state newspaper Beijing News reported that Chinese Premier Li Keqiang had said the government would not allow the country's gross domestic product growth to fall below 7 percent.
Comments from China's vice-premier, Zhang Gaoli, also bolstered sentiment this week. He reiterated Beijing's commitment to supporting the export and services industries, while steering the economy towards consumer-oriented growth, according to Reuters.
"Momentum remains positive for equities, which were given a further boost this morning as Premier Li confirmed that the minimum level for growth in China would be 7 percent, raising the potential prospect of stimulus measures to support the Chinese economy and its bottom line growth target," Rebecca O'Keeffe, head of investment at Interactive Investor, said on Tuesday.
The Richmond Federal Reserve survey will also be released on Tuesday, at 10 a.m. ET. Plus, the Treasury will auction $35 billion in 2-year notes with the results available at 1 pm.
—By CNBC's JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)
On Tap This Week:
TUESDAY: Richmond Fed mfg index, 2-yr note auction, Silicon Valley innovation summit, new Verizon Droid unveiled; Earnings from Apple, AT&T, Broadcom, Discover Financial, Electronic Arts
WEDNESDAY: MBA mortgage applications, PMI mfg index, new home sales, oil inventories, 5-yr note auction, Dell shareholder mtg, Google breakfast; Earnings from Boeing, Caterpillar, Eli Lilly, Ford, GlaxoSmithKline, PepsiCo, Facebook, Qualcomm, Visa, Akamai, Baidu
THURSDAY: Durable goods orders, jobless claims, natural gas inventories, Kansas City Fed mfg index, 7-yr note auction, Fed balance sheet/money supply, weekly rail numbers, USDA food prices outlook; Earnings from Bristol-Myers, GM, 3M, Colcate-Palmolive, Credit Suisse, Sirius XM, Amazon.com, Gilead Sciences, Starbucks, Zynga
FRIDAY: Consumer sentiment, AT&T Next debuts; Earnings from Tyco
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