Here are 10 things you should know for Tuesday, Jan. 28:
1.-- U.S. stock futures were rising Tuesday but paring gains after the Commerce Department said orders for durable goods fell 4.3% in December compared with November, when orders rose 2.6%. Tuesday begins a two-day Federal Reserve meeting, Ben Bernanke's last as chairman of the central bank.
2.-- The economic calendar in the U.S. Tuesday includes the Case-Shiller 20-City Index for November at 9 a.m. EST and the Consumer Confidence Index for January at 10 a.m.
3.-- U.S. stocks on Monday fell as homes sales fell in December and weakness in emerging markets pointed to lower demand for U.S. exports. Markets continued their decline for the month as investors braced for the possibility the Federal Reserve will announce a further tapering of its bond-buying stimulus program at the conclusion of a two-day meeting on Wednesday.
The S&P 500 fell 0.5% to close at 1,781.56 while the Dow Jones Industrial Average declined 0.3% to was little changed at 15,837.88. The Nasdaq tumbled 1.08% to 4,083.61.
4.-- IPhone and iPad maker Apple
(AAPL - Get Report) reported fiscal first-quarter earnings and revenue that topped Wall Street expectations but investors came away disappointed by iPhone sales that were below forecasts and a second-quarter revenue outlook of $42 billion to $44 billion, about $3 billion below analysts projections.
Apple sold 51 million iPhones in the quarter, up from 47.8 million a year earlier, but below forecasts of 55 million iPhones.
The company sold 26 million iPads during the quarter, in line with expectations.
Apple shares fell 7.5% in premarket trading Tuesday to $509.22.
"While 2013 represented a year of right-sizing, investment and acquisition, 2014 should be the year where monetization efforts drive a resumption in top-line growth," said Youssef Squali, an analyst at Cantor Fitzgerald, in a note. "In the meantime, prospects for the highly anticipated Alibaba IPO this year, cost containment, and a current buyback should maintain positive momentum in the stock."
Yahoo! shares rose 0.6% to $36.88 in premarket trading.
6.-- Automaker Ford (F) posted earnings and sales that beat Wall Street estimates and reiterated that 2014 margins will decline as it introduces new products led by the 2015 F-150 pickup truck. Net income excluding special items was $1.3 billion, or 31 cents a share. Analysts surveyed by Thomson Reuters had estimated 28 cents. Revenue rose 3.5% to $37.6 billion. Analysts had estimated $35 billion. Ford shares rose 1.8% to $15.98. 7.-- Google (GOOG) is adding prescription frames and new styles of detachable sunglasses to its computerized, Internet-connected goggles known as Glass. Starting Tuesday, Google will offer four styles of prescription frames and two new types of shades available to its "explorers" -- the people who are trying out Glass, The Associated Press reported.
Google said it's working with insurance provider Vision Service Plan to train eye-care providers around the U.S. on how to work with Glass. The company said some insurance plans may cover the cost of the frames. 8.-- American Airlines (AAL) beat Wall Street estimates in its first quarterly earnings report following a December merger with US Airways. CEO Doug Parker said "the early returns on our merger are very positive."
American shares rose 2.2% in premarket trading to $30.85.
Directors at Time Warner Cable, the second-largest cable operator in the U.S., also are talking to a number of Wall Street law firms about providing advice in addition to that already being given to the company, the Financial Times reported, citing people familiar with the matter. 10.-- Ahead of Tuesday night's State of the Union address, a Wall Street Journal/NBC News poll found that just more than half of Americans disapprove of President Obama's job performance, with 43% approving.