Updated from 6:15 a.m. EST
NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, Jan. 27:
1. -- U.S. stock futures were pointing lower on Tuesday as blue-chip earnings disappointed. European stocks dipped as markets calmed over Sunday's election victory by Greece's anti-austerity party.
Asian shares finished the session mixed.
The major stock exchanges on Wall Street were open for business on Tuesday even as a blizzard rolled through New York.
2. -- The economic calendar in the U.S. on Tuesday includes durable goods orders for December at 8:30 a.m. EST, the Case-Shiller 20-City Index for November at 9 a.m., consumer confidence for January at 10 a.m., and new home sales for December at 10 a.m.
3. -- U.S. stocks on Monday edged higher as investors weighed a flurry of deals and stabilizing oil prices against fears of political drama in Greece and a hit to Russia's credit rating.
The S&P 500 rose 0.26%, the Dow Jones Industrial Average gained 0.03% and the Nasdaq rose 0.29%.
Apple's first quarter will be all about its supersized iPhones. Analysts have said they expect Apple to post strong iPhone sales with help from sales in Asian markets. High demand for pricier, larger memory iPhone 6 and iPhone 6 Plus models are expected to expand profit margins as well.
Meanwhile, Taiwan's Foxconn Technology, an Apple supplier, plans to cut its massive work force, the company told Reuters, as it faces declining revenue growth and rising wages in China.
5. -- Software giant Microsoft (MSFT) - Get Microsoft Corporation (MSFT) Report reported fiscal second-quarter earnings on an adjusted basis of 77 cents a share, topping analysts forecasts. Revenue of $26.47 billion also beat Wall Street estimates.
However, sales in Microsoft's commercial division rose 5%, which was somewhat below expectations.
The period also included costs related to integrating Nokia's mobile phone business that Microsoft acquired last year.
The stock fell 7.5% in premarket trading on Tuesday.
The glitch reported in Asia, the United States, Australia and the U.K. affected access from PCs and Facebook's mobile app. The social media giant's Instagram service also was inaccessible.
A statement from the company said the disruption was caused by a technical change it made to the site and wasn't a cyberattack. Lizard Squad, a group notorious for attention seeking antics online, claimed responsibility on Twitter for the outages.
"This was not the result of a third party attack but instead occurred after we introduced a change that affected our configuration systems," Facebook said.
Revenue of $3.27 billion also matched forecasts.
The chipmaker said for the first quarter it expects earnings of 57 cents to 67 cents a share on revenue of $3.07 billion to $3.33 billion. Wall Street expects profit of 63 cents a share on revenue of $3.2 billion.
The stock rose 0.9% in premarket trading.
IBM called the report "ridiculous" and "baseless."
The company "flatly denies" the Forbes report, spokesman Ian Colley told The Associated Press.
IBM shares fell 0.9%.
To contact the writer of this article, click here:Joseph Woelfel