Futures shaved their earlier losses Tuesday following news producer prices rose more than expected in September and following a handful of earnings reports.
U.S. producer prices rose more than expected by 0.8 percent in September to record their largest increase in five months as gasoline prices surged, according to the Labor Department. Economists polled by Reuters had expected prices to increase 0.2 percent.
Among earnings, Bank of America posted a report that appeared to beat on both revenue and profit, while Goldman Sachs saw only its second loss since becoming a public company 12 years ago. Both shares were volatile in pre-market trading, see-sawing in and out of positive territory.
IBM slumped after the tech giant's revenue barely met forecasts, underscoring fears over slower IT spending. The company still beat earnings expectation and increased its 2011 EPS outlook.
Elsewhere in earnings, Coca Cola edged higher after the beverage giant posted earnings that beat estimates by a penny, as sales increased internationally.
Meanwhile, fellow Dow component J&J was flat after the pharmaceutical company posted lower earnings, but the weaker dollar and strong overseas demand helped the firm beat forecasts.