Dow futures fall 140 pts; major tech earnings loom large By Investing.com

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Investing.com — U.S. stocks are seen opening lower Tuesday, as investors await the release of quarterly results from some of the biggest names in the technology sector. 

At 06:50 ET (10:50 GMT), the contract was down 140 points, or 0.4%, traded 20 points, or 0.5%, lower and dropped 50 points, or 0.4%.

The main indices closed in a mixed fashion on Monday, with the tech-heavy closing, underperforming the and the , as investors awaited results from three out of the four largest U.S. companies by market value this week.

Microsoft (NASDAQ:) and Google parent Alphabet (NASDAQ:) are due to report after the bell Tuesday, followed by Amazon (NASDAQ:) on Thursday. 

Facebook (NASDAQ:) parent Meta Platforms is also due on Wednesday.

Shares in these firms have posted chunky gains this year, accounting for a large percentage of the S&P 500’s strength this year, and these results could determine market sentiment going forward.

Elsewhere, other major brands set to report include PepsiCo (NASDAQ:), McDonald’s (NYSE:), Verizon Communications (NYSE:), General Motors (NYSE:) and General Electric (NYSE:).

First Republic Bank (NYSE:) will also be in the spotlight after the San Francisco-based bank said that it saw $100 billion in customer withdrawals last month. Its stock slumped 20% premarket, suggesting concerns about the regional banking system remain prevalent. 

The U.S. economic data slate includes U.S. April and March , but most attention will be on the growth and inflation data later in the week ahead of next week’s Federal Reserve policy-setting meeting.

The first-quarter U.S. data, due Thursday, is expected to show that growth slowed from the prior quarter, while the Fed’s preferred inflation gauge, the , is scheduled for Friday.

The Fed is widely expected to raise by another 25 basis points next week, but expectations are growing that the central bank will start cutting interest rates in the second half of the year.

Oil prices edged lower Tuesday, with traders weighing a potential recovery in Chinese demand as the second-biggest economy nears a crucial holiday period with the likelihood of more interest rate increases in the West, hitting economic growth.

Bookings in China for trips abroad during the upcoming May Day holiday point to a continued recovery, boosting fuel demand in the world’s largest oil importer.

Data of the size of U.S. crude stocks last week from the industry body are due later in the session, and are expected to have fallen by 1.7 million barrels. 

By 06:50 ET, futures traded 0.6% lower at $78.33 a barrel, while the contract dropped 0.5% to $82.12. 

Additionally, edged 0.3% lower to $1,994.05/oz, while traded 0.1% lower at 1.1031.