The major U.S. index futures are pointing to a lower opening on Tuesday, with sentiment weighed down by eurozone debt worries after the Eurogroup failed to endorse the interest rate terms for new Greek sovereign bonds as proposed by the nation’s private creditors. Additionally, earnings news from both sides of the Atlantic has been mostly negative. Amid these negative catalysts, traders may prefer to adopt a cautious stance as the Federal Open Market Committee meeting looms.U.S. stocks moved about in a lackluster fashion on Monday before closing on a narrowly mixed note, as traders digested European bond auctions and earnings amid apprehension about the outcome of the Eurogroup finance ministers meeting.The major averages opened Monday’s session little changed but rose in early trading. However, the averages began a steady decline after the initial short rally, falling below the unchanged line in early afternoon trading. Subsequently, the averages languished mostly in negative territory before paring back their losses and yet closing mixed.The Dow Industrials ended down 11.66 points or 0.09 percent at 12,709 and the Nasdaq Composite Index closed 2.53 points or 0.09 percent lower at 2,784, while the S&P 500 Index added 0.62 points or 0.05 percent before ending nearly flat at 1,316.Eighteen of the thirty Dow components closed lower, with Travelers Co. (TRV), Verizon (VZ) and Procter & Gamble (PG) closing notably lower. Meanwhile, Bank of America (BAC), Hewlett-Packard (HPQ) and Intel (INTC) advanced notably.Commodity, Currency MarketsCrude oil futures are receding $0.68 to $98.90 a barrel after advancing $1.25 to $99.58 a barrel on Monday. Gold futures are currently slipping $12.40 to $1,665.90 an ounce. In the previous session, the precious metal added $14.30 to $1,678.30 an ounce.Among currencies, the U.S. dollar is trading at 77.70 yen compared to the 77.0232 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.2963 compared to yesterday’s $1.3013.AsiaThe major Asian markets that were open for trading closed on a mixed note, unimpressed by the outcome of the Eurogroup finance ministers' meeting. The ministers rejected the interest rate offer made by Greece's private creditors for the new bonds to be issued by the beleaguered nation.Japan's Nikkei 225 average ended 19.43 points or 0.22 percent higher at a fresh 11-week high of 8,785. Meanwhile, Australia's All Ordinaries closed down 1.20 points or 0.03 percent at 4,286. The Chinese, Hong Kong, Malaysian, Singaporean, Taiwanese and South Korean markets remained closed on account of Lunar New Year holidays.In an interest rate decision from the region, the Bank of Japan left its uncollateralized overnight call rate unchanged at a record low of 0-0.1 percent. The central bank also scaled down its economic growth forecast for this fiscal year to a 0.4 percent GDP and for the next fiscal year to 2 percent growth. A stronger yen and slowdown in overseas economies have hurt Japan and kept its economic growth nearly flat, according to the central bank.Europe The major European markets are trading notably lower despite successful Spanish bill auctions and fairly positive manufacturing readings. Financial stocks took hit after S&P downgraded French banks following rating downgrade of France recently.In corporate news, Germany's Software AG reported lower profits for its fourth quarter and warned on database software sales. Engineering giant Siemens (SI) reported a dip in its first quarter profits despite a modest rise in revenues.A survey by Markit Economics showed that eurozone's private sector activity expanded, with the corresponding index rising to 50.4 in January from 48.3 in December. Service sector activity expanded following a contraction in the previous month, while manufacturing activity contracted at a slower rate.U.S. Economic Reports The Federal Open Market Committee is scheduled to begin a 2-day meeting to discuss the near term direction of monetary policy. The monetary policy-setting arm of the Federal Reserve is set to release a post-meeting policy statement at 12:30 pm ET on Wednesday followed by a press briefing by Chairman Ben Bernanke at 2:15 pm ET.Following its 1-day December meeting, the FOMC said it expects moderate growth to lead to a gradual decline in unemployment. The commentary on inflation was retained, with the Fed suggesting that longer-term inflation expectations have remained stable, while measures of underlying inflation have trended lower in recent quarters.As expected, the FOMC opted to maintain the target for the federal funds at 0 to 0.25 percent and repeated its commitment to stay with low rates for an extended period. The Richmond Federal Reserve's manufacturing index due for release at 10 am ET is expected to show an improvement to 6 in January from 3 in December.President Barack Obama is scheduled to deliver the annual State of the Union Address to a joint session of Congress, followed by a Republican rebuttal delivered by Indiana Governor Mitch Daniels at 9 pm ET.Stocks in Focus EarningsTexas Instruments (TXN) reported fourth quarter net income of 25 cents per share, including 16 cents per share in charges, compared to 78 cents per share last year. Revenues slipped 3 percent to $3.42 billion. Notwithstanding the declines, earnings and revenues exceeded expectations. For the first quarter, the company expects earnings of 16-24 cents per share on revenues of $3.02 billion to $3.28 billion. The guidance surrounded the consensus estimates.Crane (CR) reported fourth quarter adjusted net income of 88 cents per share, higher than 68 cents per share in the year-ago period. Sales increased 10 percent to $632 million. The results trailed estimates. For 2012, the company estimates earnings of $3.75-$3.95 per share on sales growth of 3%-5%. While the earnings guidance was in line, the revenue guidance was below estimates.ST-Ericsson, a joint venture between STMicroelectronics (STM) and Ericsson (ERIC), posted a loss of $231 million for its fourth quarter compared to a loss of $177 million euros in the year-earlier period. Net sales fell to $409 million from the year-ago’s $577 million. Citing higher inventory at some of its customers, seasonality and further weakening of legacy products sales, the company said it expects a very significant sequential drop in net sales.Packaging Corp. of America (PKG) reported fourth quarter earnings of 40 cents per share, lower than 52 cents per share last year. However, sales rose 4 percent to $654 million. For the first quarter, the company expects earnings of about 40 cents per share. The fourth quarter results were ahead of estimates, while its guidance was also above the consensus estimate.Western Digital (WDC) reported second quarter non-GAAP earnings of $1.51 per share on revenues of $2 billion. The company also said it expects its manufacturing capacity will be back to pre-flood capabilities in the September quarter. The results exceeded estimates.Polycom (PLCM) reported fourth quarter non-GAAP earnings of 41 cents per share pm revenues of $407 million. The results exceeded estimates.CSX (CSX) reported fourth quarter earnings of 43 cents per share on revenues of $2.95 billion. The results were below estimates. The company also announced the departure of CFO David Brown and the appointment of Frederik Eliasson as the CFO, while its CFO Oscar Munoz is being appointed as its COO.Kansas City Southern (KSU) reported fourth quarter adjusted earnings per share of $1.01 on revenues of $530 million.DuPont’s (DD) fourth quarter adjusted earnings came in at 35 cents per share, as sales rose to $8.43 billion. The earnings exceeded estimates, while revenues slightly shy of estimates. The company reaffirmed its 2012 adjusted earnings per share estimate of $4.20-$4.40 per share, surrounding the consensus estimate of $4.26 per share.Vmware (VMW) reported fourth quarter earnings and revenues exceeding estimates. The company expects to report first quarter revenues in line or above estimates, while its full year revenue guidance surrounds the consensus estimate.Verizon (VZ) reported fourth quarter non-GAAP earnings of 52 cents per share on revenues of $29.55 billion. The earnings missed estimates by a penny, while revenues exceeded estimates.Travelers Companies (TRV) said its fourth quarter operating earnings rose to $1.48 per share from $1.89 per share last year. Revenues rose 1 percent to $6.37 billion. The results trailed estimates.McDonald’s (MCD) reported better than expected fourth quarter results.Johnson & Johnson’s (JNJ) fourth quarter adjusted earnings were $1.13 per share and revenues of $16.3 billion. The company expects full year adjusted earnings of $5.05-$5.15 per share. The fourth quarter results were ahead of estimates, while its 2012 guidance was soft.Notable among the companies due to release their quarterly results after the markets close include Advanced Micro Devices (AMD), Altera (ALTR), Apple (AAPL), CA (CA), Hutchinson Technology (HTCH), Norfolk Southern (NSC), RF Micro Devices (RFMD), Yahoo (YHOO) and Stryker (SYK).Other Corporate NewsSunTrust Banks (STI) announced the acquisition of all the assets of direct online lender FirstAgain.SPX (SPW) announced a deal to sell its service solutions business to Robert Bosch GmbH for $1.15 billion in cash.Watson (WPI) announced the acquisition of Ascent Pharmahealth, the Australia and Southeast Asia generic pharma business of Strides Arcolab, for 375 million Australian dollars in cash. The company expects the deal to be immediately accretive to 2012 non-GAAP earnings. The target unit had total sales of 150 million Australian dollars in 2011. Separately, the company announced preliminary 2011 non-GAAP earnings per share of $4.75-$4.77, while it reported preliminary revenues of $4.75 billion. The preliminary results are ahead of estimates.Semtech (SMTC) announced a deal to buy all outstanding shares of Gennum for $494 million. Community Bank Systems (CBU) announced the pricing of its previously announced common stock offering of 1.85 million shares at $27 per share, a discount to its Monday’s closing price of $28.36.