Goldman Sachs reported first-quarter earnings that topped lowered Wall Street expectations, but marked a fourth-straight quarter of profit declines as market volatility hit the company's bond trading and investment banking businesses. Revenue plunged about 40 percent from the year-ago period and missed estimates.
Overnight, IBM posted results that beat on both the top and bottom line. However, revenue continued to fall and the firm did not raise its full-year guidance. The stock was about 4 percent lower in pre-market trade.
Netflix also disappointed with lower-than-expected subscriber growth for the second quarter. Shares were nearly 9 percent lower in pre-market trade.
Other big-name earnings on Tuesday include Intel and Yahoo. Johnson & Johnson also posted quarterly earnings that beat, while revenue matched forecasts. The firm raised its full-year forecast.
UnitedHealth reported earnings that beat on both the top and bottom line, and raised its full-year forecast. Shares were nearly 2 percent higher in pre-market trade.
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Other stocks to watch include eBay, which Morgan Stanley downgraded to "underweight" on Tuesday, citing lackluster buyer and spending growth and rising competition from Amazon.
In economic news, housing starts fell a more-than-expected 8.8 percent in March to a seasonally adjusted annual pace of 1.09 million units, the lowest level since October, according to Reuters, citing the Commerce Department. Building permits dropped 7.7 percent to a 1.09 million-unit rate last month, the lowest level since March last year.
Treasury yields were mixed, with the 2-year yield little changed near 0.75 percent and the 10-year yield holding higher near 1.78 percent.
The U.S. dollar index was slightly lower, with the euro near $1.135 and the yen at 109.2 yen against the greenback as of 8:37 a.m. ET.
Late Monday, Boston Fed President Eric Rosengren reiterated in a Reuters report that the Federal Reserve is set hike interest rates more rapidly than priced into futures markets, which see only one modest rate hike in each of the next few years.
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