U.S. stock futures ticked lower as investors awaited earnings reports from the biggest technology giants. Here’s what we’re watching ahead of Tuesday’s open.

  • Tesla ‘s quarterly profit soared to record levels as it largely evaded the effects of a global chip shortage that has constricted the global auto industry. The report gave its shares a premarket jolt, rising 1.2%.
Tesla shares were rising in off-hours trading.

Tesla shares were rising in off-hours trading.

Photo: Qilai Shen/Bloomberg News

  • It’s another bad day to be a Chinese technology stock, and the gloom is spreading to U.S.-listed shares of Chinese firms. Alibaba shares were down 3.3% premarket in New York, and Yum China Holdings dropped 4%.
  • General Electric shares were up 4.3% after its earnings release. The industrial conglomerate reported second-quarter profit and revenue that beat expectations, and surprisingly generated positive free cash flow.
  • F5 Networks jumped 7.1% ahead of the bell. The software company reported better-than-expected profit and revenue in the latest period, helped by the pandemic-driven digital acceleration.
  • United Parcel Service delivered better-than-expected profit and revenue during the recent quarter, but investors appear unimpressed: Its shares slipped 2.4% premarket.
  • Raytheon Technologies shares gained 1.5% premarket after the aerospace and defense company nudged up its guidance for sales and free cash flow.
  • Agriculture company Archer Daniels Midland logged higher second-quarter results, with revenue rising over 40% from a year ago. Its shares climbed 3% premarket.
  • 3M shares inched up 0.9% after it beat its earnings estimates and lifted its forecast.
  • Apple shares are up just 0.1% premarket. The company on Tuesday is expected to post a record spring-quarter profit, as customers continue to embrace new iPhones and other devices and investors look for signs the company’s pandemic-induced success will continue.
  • Alphabet, Microsoft, Starbucks, Mattel, Mondelez and Visa will report earnings after the close.
  • The benchmark S&P 500 hasn’t suffered a 5% pullback since October and has advanced 35% since the end of that month. A brief selloff at the beginning of last week suggests there is anxiety percolating in the market, though.