Investing.com - U.S. futures were flat on Tuesday, uninspired by earnings from JPMorgan and Johnson&Johnson that both beat expectations.
JPMorgan (NYSE:JPM) reversed initial gains to be down 1.6% in premarket trade, despite its earnings coming out better than expected. As with Citigroup on Monday, declines in markets-based revenues were offset by a still-strong consumer lending business in the U.S., and provisions for credit losses also fell. The bank also raised its quarterly dividend and upped its share buyback program.
Wells Fargo (NYSE:WFC) and Goldman Sachs (NYSE:GS) are also expected to release earnings before the bell. United Continental Airlines and CSX (NASDAQ:CSX) report after the bell.
The outlook for the second quarter is dim, with market consensus of a 3% decline in earnings from S&P 500 companies, according to Factset. Citigroup (NYSE:C) reported strong earnings before the close on Monday, but gains were offset by a decline in its net interest margin and investing divisions.
Nasdaq 100 futures fell 1 point to 7,985.75 by 6:50 AM ET (10:50 GMT), while Dow futures lost 11 points to 27,330.5 and S&P 500 futures were flat at 3,017.12.
Facebook (NASDAQ:FB) was flat in premarket trade, as the company appears before Congress to testify about its cryptocurrency, Libra.
Johnson&Johnson (NYSE:JNJ) rose 0.9% after its earnings and revenue beat estimates. Microsoft (NASDAQ:MSFT) inched up 0.2%, while Micron (NASDAQ:MU) was up 0.1%.
Speeches from several Federal Reserve members will also be scrutinized for insight into the outlook for monetary policy for the rest of the year. A rate cut at the end of July is already fully priced in. Fed Chairman Jerome Powell speaks at 1:00 PM ET (17:00 GMT).
In commodities, crude oil rose 0.3% to $59.77 a barrel, while gold futures gained 0.2% to $1,416.45 a troy ounce. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.3% to 96.812.