07:32 AM EDT, 04/29/2025 (MT Newswires) -- US equity futures were mostly lower on Tuesday as investors assess media reports that President Donald Trump plans to ease tariff pressure on the domestic auto industry and await the latest batch of corporate earnings.

The S&P 500 slipped 0.1% while the Dow Jones Industrial Average gained 0.2% before the bell. The indexes finished higher on Monday for the fifth day in a row. The Nasdaq fell 0.1% in premarket activity, after closing the previous trading session in the red and snapping a four-day winning streak.

The Trump administration intends to take steps to ease the impact of auto tariffs by limiting duties on imported components used in US-made vehicles and preventing duplicate charges on cars manufactured abroad, media outlets reported, citing a White House statement.

US Commerce Secretary Howard Lutnick reportedly said that the arrangement strengthens collaboration with domestic automakers and US workers while encouraging companies that plan to invest in and expand operations in the country. The new measures are expected to be made official on Tuesday, according to reports.

Shares of Tesla (TSLA), General Motors ( GM ) , Ford Motor ( F ) , Stellantis ( STLA ) and Rivian Automotive ( RIVN ) were up before the opening bell. Cadence Design Systems ( CDNS ) declined 1.3% even though the company reported better-than-expected first-quarter earnings. NXP Semiconductors' ( NXPI ) US-listed shares fell 8.6% as the Dutch chipmaker flagged tariff-related uncertainties and announced the retirement of its chief executive.

Coca-Cola (KO), S&P Global ( SPGI ) , Pfizer ( PFE ) , Honeywell International ( HON ) , Spotify Technology ( SPOT ) , United Parcel Service ( UPS ) , PayPal ( PYPL ) , General Motors ( GM ) and Kraft Heinz ( KHC ) are among the major companies reporting their latest financial results before the bell.

Visa (V), Booking Holdings ( BKNG ) , Starbucks ( SBUX ) and Mondelez International ( MDLZ ) post earnings after the markets close.

On Tuesday's economic calendar, the international trade in goods, retail inventories and wholesale inventories reports for March are out at 8:30 am ET, followed by the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for February, at 9 am.

The Conference Board's consumer confidence report for April and the Job Openings and Labor Turnover Survey for March are scheduled for a 10 am release.

US Treasury yields moved higher in premarket action, with the two-year rate increasing 2.8 basis points to 3.71% and the 10-year rate up 1.7 basis points to 4.23%.

West Texas Intermediate crude oil decreased 1.3% to $61.26 a barrel before the opening bell. Bitcoin edged up 0.1% to $93,893, while gold retreated 0.8% to $3,322 per troy ounce.