Eli Lilly, UPS ahead, SoftBank's surprise loss - what's moving markets

investing.com:

Investing.com — U.S. stock futures point lower ahead of a raft of new corporate earnings that include results from Eli Lilly and UPS. Elsewhere, SoftBank slips to a surprise quarterly loss, although its flagship Vision Fund is boosted by a rebound in tech valuations, while Tesla shares fall after the electric car maker unexpectedly announces the departure of its finance chief.

1. Futures edge lower

U.S. stock futures edged lower Tuesday, suggesting a pullback from gains made in the prior session, as investors awaited the release of a fresh batch of corporate earnings.

At 05:10 ET (09:10 GMT), the Dow futures contract dipped by 80 points or 0.23%, S&P 500 futures slipped by 13 points or 0.29%, and Nasdaq 100 futures lost 53 points or 0.35%.

The main indices on Wall Street rose on Monday, with the benchmark S&P 500 and Nasdaq Composite rebounding from four consecutive days of declines. The 30-stock Dow Jones Industrial Average also jumped to its best day since mid-June.

In individual stocks, big data firm Palantir (NYSE:PLTR) lifted its revenue target, thanks to increasing demand for its artificial intelligence service, while educational tech company Chegg (NYSE:CHGG) quarterly sales beat estimates as concerns eased that ChatGPT would eat into its customer growth.

2. Eli Lilly, UPS on tap

Drugmaker Eli Lilly (NYSE:LLY) and logistics firm United Parcel Service (NYSE:UPS) are among the biggest brands reporting their latest earnings Tuesday.

For Eli Lilly, investors will likely be keen to receive any updates around the regulatory approval process for its treatment for Alzheimer's disease.

Last month, the company announced that a Phase III study had shown that the drug, donanemab, had significantly slowed cognitive decline