* Futures up: Dow 56 pts, S&P 2.5 pts, Nasdaq 5.25 pts
By Sruthi Shankar
Oct 24 (Reuters) - U.S. stock index futures were higher on Tuesday, with earnings from a host of Dow components, including McDonald's and Caterpillar, likely to set the tone for the day.
* Third-quarter earnings season has been largely upbeat, with three quarters of the 97 S&P 500 companies that have reported results as of Monday beating profit estimates.
* Wall Street retreated from all-time highs on Monday, as declines in technology and industrial stocks weighed.
* Strong earnings and hopes on President Donald Trump's tax plans moving forward have helped the Dow and S&P close at record highs on all five days last week.
* Investors are also keeping a watch on any news around the nomination of the new Federal Reserve chief. Trump told reporters on Monday he is "very, very close" to deciding who should chair the Fed after interviewing five candidates for the position.
* United Technologies gained 1.73 percent in premarket trading after the company reported a better-than-expected profit and raised earnings forecast for the second time this year.
* Apple slipped 0.7 percent after report that the company would settle for half its planned iPhone X shipments this year.
* Whirlpool tumbled nearly 9 percent after the home appliances maker reported profit and sales below estimates and lowered full-year earnings guidance.
* Oil fell towards $57 a barrel as crude flows through Iraq's northern pipeline to Ceyhan in Turkey rose further, offsetting an expected fall in U.S. crude inventories.
* U.S.-listed shares of Deutsche Bank rose 3 percent after a report that banks in the euro zone see stronger credit demand in the current quarter.
* Economic data includes Markit manufacturing PMI index for October at 9:45 a.m. ET (1345 GMT).
Futures snapshot at 6:58 a.m. ET:
* Dow e-minis were up 56 points, or 0.24 percent, with 17,606 contracts changing hands.
* S&P 500 e-minis were up 2.5 points, or 0.1 percent, with 109,088 contracts traded.
* Nasdaq 100 e-minis were up 5.25 points, or 0.09 percent, on volume of 21,662 contracts. (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D'Silva)