Stock futures were calm on Tuesday evening as Wall Street looks to see whether equities can be rebound to record highs this week.

Futures tied to the S&P 500 were flat. Nasdaq 100 futures ticked up by less than 0.1%, while Dow Jones Industrial Average futures added just 2 points.

The Dow and S&P 500 both slipped from their recent records during Tuesday's regular trading session, falling 0.75% and 0.76%, respectively. The Nasdaq Composite fell 1.01%, but is still less than 2% from its own record high. Tech stocks – semiconductors, in particular – weighed on the S&P 500 and the Nasdaq. The tech sector slid 1.8% on Tuesday, as Nvidia fell more than 4%.

Bryn Talkington, managing partner of Requisite Capital Management, said on CNBC's "Closing Bell" that the stock market would likely be choppy in the weeks ahead as investors try to navigate earnings season and the presidential election.

"Until the election is over and we can confirm gridlock, I think at the headline number we're not going to do much, but I think underneath the surface we're going to see the haves and have nots," she said.

Earnings reports this week have been mixed, with solid reports from major banks somewhat offset by weak outlooks from firms like UnitedHealth Group and Dutch chipmaker ASML.

On Wednesday, Morgan Stanley and Abbott Laboratories are two notable reports due out before the market open.

United Airlines announces $1.5 billion stock buyback

United Airlines unveiled a new stock buyback program as part of its third-quarter report. The $1.5 billion plan marks the first time the airline has repurchased its shares since before the Covid-19 pandemic.

United also beat earnings estimates for the quarter, reporting $3.33 in adjusted earnings per share. Analysts surveyed by LSEG were expecting $3.17.

Still, shares of the airline dipped slightly in extended trading. Check out more after hours movers here.

— Jesse Pound

Chip stocks were the biggest culprits in the Nasdaq 100’s decline Tuesday

The Nasdaq 100 tumbled 1.37% on Tuesday, and semiconductors were some of the biggest contributors to the index's slide.

Nine out of the top 10 stocks with the most negative point impact on the Nasdaq 100 were chip names. Nvidia's 4.7% drop accounted for nearly 75 points on the index. Broadcom came in second place, with a roughly 3.5% loss and a 37.37-point impact. Applied Materials rounded out the top three: Shares fell 10.7%, accounting for more than 22 points on the Nasdaq 100.

KLA Corp, Advanced Micro Devices, ASML, Lam Research, Texas Instruments and Analog Devices also played key parts in the index's loss.

—Darla Mercado, Gina Francolla

Equity futures open little changed

Stock futures saw only modest movement when trading opened at 6 p.m. in New York. All three major contracts were within 0.1% of the flat line.

— Jesse Pound