Stock index futures trimmed declines on Tuesday after data showed housing starts fell more than expected in June, but applications for building permits rose more than forecast.

Futures were pressured after Goldman Sachs Group Inc reported much lower earnings and as revenues from International Business Machines Corp and Texas Instruments Inc missed estimates.

S&P 500 futures dropped 8.8 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures lost 97 points, and Nasdaq 100 futures fell 15.5 points.

(Reporting by Leah Schnurr; editing by Jeffrey Benkoe)

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