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General Motors ( GM ) up after it beats Q3 estimates

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3M ( MMM ) gains after lifting adjusted profit forecast

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Futures down: Dow 0.39%, S&P 500 0.51%, Nasdaq 0.63%

(Updated at 06:53 a.m. ET/1053 GMT)

By Lisa Pauline Mattackal and Purvi Agarwal

Oct 22 (Reuters) -

U.S. stock index futures fell on Tuesday as rising Treasury

yields pressured rate-sensitive shares, while investors assessed

the strength of the corporate sector from various company

results.

General Motors ( GM ) climbed 2.4% after the legacy

carmaker's third-quarter results beat Wall Street estimates,

while 3M ( MMM ) was up 3.5% after the industrial conglomerate

raised the lower end of its full-year adjusted profit forecast.

Dow E-minis were down 169 points, or 0.39%, S&P 500

E-minis were down 30 points, or 0.51% and Nasdaq 100

E-minis were down 128.75 points, or 0.63%.

U.S. Treasury yields rose across the board, as investors

gauged the impact of the upcoming presidential election on

fiscal policy, while reassessing the effect of a robust American

economy on the Federal Reserve's policy trajectory.

The yield on the benchmark 10-year note rose as

high as 4.222%, continuing a steady climb since early October,

after a bumper jobs report led investors to dial back

expectations for monetary policy easing through the year.

Traders are pricing in an 87.5% chance of a 25-basis-point

interest-rate cut in November, according to CME's FedWatch.

Rate-sensitive megacap stocks slipped in premarket trading,

with Tesla down 0.8%, Apple ( AAPL ) falling 0.7% and

Nvidia ( NVDA ) losing 0.4%.

The primary focus, however, remained on corporate earnings,

with more than 100 companies set to report in the week.

GE Aerospace fell 4% despite raising its

profit

forecast for 2024, while life science company Danaher ( DHR )

was up 2.9% after

beating

estimates for third-quarter results.

Lockheed Martin ( LMT ) is among those still scheduled to

report before the bell, while Baker Hughes ( BKR ) and Texas

Instruments ( TXN ) earnings are awaited after market close.

BCA Research analysts said they expected third-quarter

earnings to be strong enough to support hopes for a soft landing

for the economy. "Earnings season will also provide useful

information on the US economy and consumer spending, the global

growth slowdown, and the breadth of earnings growth outside of

the mega-cap names."

Stocks retreated from record highs on Monday, as investors

took a breather following six consecutive weeks of advances for

major indexes, although gains in Nvidia ( NVDA ) helped the Nasdaq edge

higher.

While indexes have rallied on the back of upbeat data and a

favorable monetary policy outlook, the next few weeks are likely

to be a volatile ride for equity markets, as investors assess

earnings, fresh economic data and the results of the U.S.

election, followed by a central bank meeting.

Estimated third-quarter year-over-year earnings growth for

the S&P 500 is 6.5% excluding the Energy sector and 4%

overall, according to LSEG data.

Futures tracking the economically sensitive small-cap

Russell 2000 lost 0.8%.

Remarks from Philadelphia Fed President Patrick Harker are

expected later in the day.