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Weak open seen for stocks
Investors brace for more quarterly results and January auto sales reports.
By CNNMoney.com staff
Last Updated: February 3, 2009: 7:42 AM ET
NEW YORK (CNNMoney.com) -- U.S. stocks looked set for a mostly lower open Tuesday, as investors braced for more quarterly results and the January auto sales reports.

At 7:39 a.m. ET, Dow Jones industrial average and Standard & Poor's 500futures were lower, while Nasdaq 100 future edged up.
Futures measure current index values against perceived future performance and offer an indication of how markets will open trading begins in New York.

This follows mixed trading on Monday, when investors were focused on the Senate debate over the $885 billion stimulus package. The debate continues Tuesday.

"The moving factor today, initially, will be earnings and car sales and then, as we move through the rest of the day, the rhetoric out of Washington," said Peter Cardillo, chief market economist for Avalon Partners.

Corporate results: Dow Chemical (DOW, Fortune 500) reported a loss of $1.55 billion for the fourth quarter, or a loss of $1.68 per share. The company blamed nearly $1 billion in charges stemming from restructuring costs, the impact of Hurricanes Gustav and Ike, and other factors.

Motorola (MOT, Fortune 500) reported a fourth-quarter net loss of $3.6 billion, or $1.57 per share, and said it was suspending its dividend. The company said it would cut $1.5 billion in costs this year, and appointed an acting chief financial officer.