Stocks set to pull back

Futures decline after Texas Instruments issues weak outlook; AT&T, McDonald's on deck.

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April 22, 2008: 5:13 AM EDT

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LONDON (CNNMoney.com) -- Stock futures fell early Tuesday as investors reacted to a bleak outlook from Texas Instruments and awaited earnings from a trio of Dow components.

At 4:34 a.m. ET, Nasdaq and S&P futures were lower and indicating losses at the market open.

Texas Instruments (TXN, Fortune 500) reported a jump in quarterly profit late Monday. But the chipmaker's outlook disappointed investors. Shares fell 2% in after-hours trading.

The cascade of earnings continues with AT&T (T, Fortune 500), DuPont (DD, Fortune 500) and McDonald's (MCD, Fortune 500) all due to report earnings before the opening bell. All three are components of the blue-chip Dow Jones industrial average.

Oil prices hit a fresh all-time high. Light, sweet crude for May delivery crossed $118 a barrel in electronic trading.

In global trade, Japan stocks fell. Major markets in Europe dipped in early trading. To top of page

A strong case for market optimism
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