US stock futures were muted on Tuesday as crosscurrents from bank earnings, a chip sell-off, and volatile oil prices clouded the market outlook.

Futures on the Dow Jones Industrial Average ( YM=F ) rose by 0.2%, while those on the S&P 500 ( ES=F ) fell by 0.1%. Contracts for the Nasdaq-100 ( NQ=F ) declined by 0.6% as tech stocks continued to drag.

South Korea's KOSPI (^KS11) index fell 6%, weighed down by declines in memory stocks Samsung (005930.KS) and SK Hynix (000660.KS), as stocks in Asia extended Monday's chip sell-off. The pullback came after Chinese memory maker CXMT (688825.SS) announced progress on a new memory-cell design.

Adding to angst, Broadcom CEO Hock Tan likened investors speculating on AI to "a casino" on Monday. "A lot of investors have no clue what they are investing in," the chipmaker's CEO said, according to Bloomberg.

Attention also turned toward big bank earnings, which mark the unofficial start of the third quarter earnings season. JPMorgan Chase ( JPM ) reported weaker-than-expected profits, and Goldman Sachs ( GS ) and Citigroup ( C ) were also scheduled to report results on Tuesday morning.

Oil prices fell on Tuesday after Brent crude (BZ=F) topped $105 per barrel and gasoline prices tied 2022 for the most days above $4 per gallon in a single year.

Existing home sales are the primary data point to watch on Tuesday's economic calendar. But the main event will be inflation data later this week.