By Bansari Mayur Kamdar and Devik Jain

(Reuters) -U.S. stock indexes were set to open lower on Tuesday as investors waited to see if earnings from Big Tech companies this week will provide support to a market worried about high inflation and slowing global growth.

Market-leading growth stocks have been hammered this year as investors fear higher interest rates will erode their future earnings, while China’s lockdown and hawkish pivot by major central banks have overshadowed what has been a better-than-expected earnings season so far.

Twitter was flat in premarket trading, a day after the social media platform agreed to sell itself to Tesla Inc chief Elon Musk.

Alphabet Inc and Microsoft Corp fell 0.2% and 0.6%, respectively, ahead of their results after the closing bell on Tuesday. Nearly a third of the S&P 500 companies are expected to report this week.

“Given the picture of the market (right now), if any of these tech companies report earnings that are below expectations, it could be very dangerous because the downside is fragile,” said Julius de Kempenaer, senior technical analyst at

“If they report numbers that are better than expected, I don’t think that will be enough to turn the current weakness in the market around.”

Although there were some earnings bright spots, the overall mood in the market was somber due to global growth fears, stoked by China’s COVID-19 curbs, the Ukraine war and aggressive tightening by the Federal Reserve.

Russia accused NATO of creating a serious risk of nuclear war by arming Ukraine in a proxy battle as Washington and its allies met to pledge the heavy weapons Kyiv needs to achieve victory.

At 08:52 a.m. ET, Dow e-minis were down 199 points, or 0.59%, S&P 500 e-minis were down 23.25 points, or 0.54%, and Nasdaq 100 e-minis were down 80.25 points, or 0.59%.

Of the 102 companies in the S&P 500 that reported earnings through Monday, 77.5% topped analysts’ profit expectations, according to Refinitiv data. In a typical quarter, 66% beat estimates.

United Parcel Service Inc gained 1.7% after it reported a rise in quarterly adjusted profit, while industrial giant 3M Co slipped 1.4% as waning demand for its disposable N95 masks hurt quarterly adjusted profit [nL3N2WO2BN]

General Electric Co fell 4.1% after forecasting full-year earnings at the low end of its previous estimate, as persistent supply chain disruptions and rising freight and raw material costs take a toll on the industrial conglomerate.

Meanwhile, data showed new orders for U.S.-made capital goods rebounded more than expected in March, suggesting that business spending on equipment ended the first quarter with strong momentum.

Consumer confidence report for April will be released after market opens.

(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Maju Samuel and Anil D’Silva)