Updated from 7:44 a.m. ET, Tuesday, Aug. 1. 

Stock futures pointed to a higher open on the first day of August as earnings came in positive and Wall Street waited for Apple Inc.'s  (AAPL - Get Report)  earnings report.

S&P 500 futures increased 0.2%, Dow Jones Industrial Average futures were up 0.41%, and Nasdaq futures added 0.25%.

Stocks in the U.S. on Monday, July 31, finished mixed but the Dow ended the session with a closing high and its best monthly gain since February. The Dow rose 0.28%, hitting a record close of 21,891. The blue-chip index rose 2.3% for July, its fourth month with gains and its largest increase since a 4.8% rise in February. It was the Dow's fourth session of records in a row.

Apple will report its recent quarterly performance after the bell Tuesday. The world's largest company is expected to post earnings of $1.57 a share during its quarter that ended in June, a 10% increase from a year earlier. Sales are forecast to have climbed nearly 6% to $44.9 billion. 

Investors will be paying close attention to iPhone sales, which dropped to 50.8 million in the second quarter from 51.2 million in the previous quarter. Apple's latest iPhone models, the 7 and 7 Plus, came out in September 2016.

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Pfizer Inc. (PFE - Get Report)  slipped in premarket trading after beating analysts' estimates on its bottom-line. Adjusted profit of 67 cents a share came in 2 cents higher than expected. However, revenue of $12.9 billion missed forecasts of $13.07 billion. The drugmaker lifted its full-year adjusted earnings guidance to $2.54 to $2.60 a share, up from its previous range of $2.50 to $2.60. 

Xerox Corp. (XRX - Get Report)  also reported a mixed quarter. The copier company earned an adjusted 87 cents a share, 7 cents above expectations. Revenue of $2.57 billion fell short of $2.62 billion consensus. Its full-year adjusted earnings guidance of $3.20 to $3.44 a share was in line with $3.32 consensus. 

Under Armour Inc. (UA - Get Report)  slumped 0.8% before the bell after cutting its full-year forecasts. The retailer anticipates full-year sales growth of 9% to 11%, down from its previous targets of 11% to 12%. Adjusted earnings guidance of 37 cents to 40 cents a share came in lower than a target of 42 cents. Under Armour also announced a restructuring plan, involving job cuts, that is expected to rack up charges of $110 million to $130 million. 

BP PLC (BP - Get Report) posted second-quarter earnings largely in-line with forecasts and maintained its dividend as the company swung to a profit thanks to gradually rising global oil prices. BP said profit for the three months ended in June was $144 million, a massive swing from the $1.42 billion loss recorded during the same period last year. Underlying replacement cost profit slipped 5% to $684 million, but still topped a company-provided estimate of $500 million.

Earnings were 4 cents a share, matching a consensus of analysts polled by FactSet, compared with a year-earlier loss of 46 cents. Revenue rose 21% $56.511 billion and topped estimates. American depositary receipts of BP were trading up 3.3% in premarket trading on Tuesday.

Lumber Liquidators Holdings Inc. (LL rocketed 14% higher after posting an unexpected profit in its recent quarter. The company swung to earnings of 16 cents a share from a loss of 45 cents a year earlier. Analysts anticipated a net loss of 6 cents a share. Revenue of $263.5 million exceeded estimates of $256.9 million. Same-store sales increased 8.8%, outpacing an anticipated 6% rise. 

Sprint Corp. (S - Get Report)  moved 1% higher after returning to profit for the first time in three years. The telecom earned 5 cents a share over its first quarter compared to a loss of 8 cents a year earlier. Analysts anticipated a loss of a penny a share. Revenue of $8.16 billion came in slightly below estimates. Postpaid phone customers increased by 88,000, while prepaid customers rose by 35,000. Sprint forecasts cost cuts of an additional $1.3 billion to $1.5 billion over fiscal 2017.  

Other earnings of note Tuesday include Steven Madden Ltd. (SHOO - Get Report) , Royal Caribbean Cruises Ltd. (RCL - Get Report) , Phillips 66 (PSX - Get Report)  and HCP Inc. (HCP - Get Report) .

U.S. personal incomes came in flat in June, while consumer spending ticked up slightly. Incomes were flat month-on-month in June, falling short of 0.4% growth consensus. Income increased by 0.4% in May. Spending rose by 0.1%, which was in line with estimates. Core personal consumption expenditures rose by 0.1% in June and have risen 1.5% over the past 12 months. 

On the economic calendar Tuesday, motor vehicle sales for July will be released through the morning, the PMI manufacturing index for July at 9:45 a.m. ET, the ISM manufacturing index July at 9:45, and construction spending for June at 10 a.m.

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