S&P 500 futures slide ahead of a huge week of earnings reports

Stock futures dipped Sunday evening as investors braced for a week of major first-quarter earnings reports ahead.

Futures on the Dow Jones Industrial Average lost about 50 points, or 0.1%. S&P 500 futures shed 0.3%. Nasdaq futures were lower by 0.6%.

Bank of America reports quarterly results Monday before the bell. Several Dow blue chip names report earnings this week, including IBM, Procter and Gamble, Travelers, Dow Inc, Johnson and Johnson, American Express and Verizon.

Big tech bellwethers are also set to share quarterly earnings, with Netflix due on Tuesday and Tesla out on Wednesday. Snap reports Thursday. United Airlines, American Airlines and Alaska Air are also on the calendar, as are railroads CSX and Union Pacific.

Investors will be paying close attention to forward guidance, especially for comments on how companies are handling surging costs. Analysts believe first-quarter earnings will jump 5% for the quarter when all S&P 500 companies finish reporting, according to FactSet's analysis of actual results and future estimates.

Earnings season is off to a decent start with 77% of S&P 500 companies reporting earnings per share above expectations according to FactSet. Seven percent of the benchmark has reported results so far.

Despite some better-than-expected results, investors sold stocks last week as they feared higher rates and inflation could darken the outlook for earnings. The S&P 500 fell 2.13% for its second negative week in a row. The Nasdaq Composite lost 2.63%, and the Dow fell 0.8% on the period.

The 10-year Treasury yield touched the highest in three-year last week above 2.83%, which is weighing on stocks.

—With reporting by CNBC's Patti Domm.