Skip to main content

Here are 10 things you should know for Tuesday, Oct. 27:

1. -- U.S. stock futures were trading lower Tuesday ahead of the start of a two-day meeting of the Federal Reserve and earnings fromApple (AAPL) - Get Apple Inc. Report  .

European stocks declined. Asian shares ended Tuesday's session mostly to the downside.

2. -- The economic calendar in the U.S. on Tuesday includes durable-goods orders for September at 8:30 a.m. EDT, the Case-Shiller 20-city Index for August at 9 a.m., and consumer confidence for October at 10 a.m.

3. -- U.S. stocks on Monday bounced around in choppy trading and finished mixed. The  S&P 500 closed down 0.2%, the  Dow Jones Industrial Average fell 0.15%, and the  Nasdaq added 0.06%. 5. -- When Apple reported third-quarter earnings in July, it forecast it would generate fiscal fourth-quarter sales of between $49 billion and $51 billion, with margins between 38.5% and 39.5%. Must Read: 4 Oil and Gas Stocks Fueling Up for Big Breakouts

4. -- Walmart (WMT) - Get Walmart Inc. Report applied Monday to U.S. regulators for permission to test drones for home delivery, curbside pickup and checking warehouse inventories, Reuters reported.

The moves are a sign the world's largest retailer plans to go head-to-head with Amazon (AMZN) - Get Inc. Report in using drones to fill and deliver online orders.

For several months Walmart has been conducting indoor tests of small unmanned aircraft systems and is now seeking for the first time to test the machines outdoors. It plans to use drones manufactured by China's SZ DJI Technology, Reuters reported.

Analysts expect Apple to earn $1.88 a share on revenue of $51.12 billion in the fourth quarter when it reports after Tuesday's closing bell.

Analysts are anticipating Apple to sell about 47.8 million iPhones during the quarter. 

6. -- JPMorgan Chase (JPM) - Get JP Morgan Chase & Co. Report said it would launch its own competitor to Apple Pay soon, allowing consumers to pay retailers via their smartphones.

JPMorgan said it already has won the endorsement of major merchants for the product.

Scroll to Continue

TheStreet Recommends

The bank believes its smart phone application, known as Chase Pay, has a key advantage: the caliber of retailers it has brought on board, Gordon Smith, CEO of the bank's consumer business, told Reuters.

Chase signed a deal with the Merchant Customer Exchange, a group of major retailers including Walmart and Best Buy to accept payments through the bank's technology.

7. -- BP (BP) - Get BP p.l.c. Report , the oil giant, reported a 96% drop in third-quarter profit Tuesday and announced further efforts to curtail spending as it prepares for a prolonged period of low oil prices.

The London-based company said net income fell to $46 million from $1.29 billion in the third quarter of 2014. So-called underlying replacement cost profit fell 40% to $1.82 billion.

BP said it plans to cut costs by $6 billion through 2017 -- $3 billion more than already achieved -- forecasting oil prices at around $60 a barrel by that time. Brent crude, the benchmark for North Sea oil, averaged $50.26 a barrel in the third quarter, down 51%

The company also said it expects to sell as much as $5 billion of assets next year.

8. -- DuPont (DD) - Get DuPont de Nemours Inc. Report posted third-quarter earnings of 26 cents a share. Earnings, adjusted to account for discontinued operations and non-recurring gains, were 13 cents.

Analysts were looking for earnings of 11 cents a share.

The chemical company posted revenue of $4.87 billion in the third quarter, which was below Wall Street forecasts. 

DuPont said it expects full-year earnings of $2.75 a share.

9. -- Swiss pharmaceutical giant Novartis (NVS) - Get Novartis AG Report said net income fell 42% in the third quarter, largely because of the sale of its hepatitis drug unit a year earlier and provisions for legal settlements and fees.

10. -- Earnings are also expected Tuesday from Twitter (TWTR) - Get Twitter Inc. ReportFord (F) - Get Ford Motor Company Report , Alibaba (BABA) - Get Alibaba Group Holding Limited American Depositary Shares each representing eight Report , Comcast (CMCSA) - Get Comcast Corporation Class A Common Stock Report , Merck (MRK) - Get Merck & Company Inc. Report , Bristol-Myers (BMY) - Get Bristol-Myers Squibb Company Report , United Parcel Service (UPS) - Get United Parcel Service Inc. Report and T-MobileUS (TMUS) - Get T-Mobile US Inc. Report .