Earnings reporters are acting weighing on the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.88% Tuesday, as the net effect of the premarket stock declines is to shave about 37 points off the index's price. Four Dow components reported second-quarter results before Tuesday's open, with Pfizer Inc.'s stock /zigman2/quotes/202877789/composite PFE -0.52% rising 2.7% to pace the Dow's gainers, followed by the 1.5% rally in Raytheon Technologies Corp. /zigman2/quotes/203237915/composite RTX -0.73% shares, after both companies beat profit and sales expectations. The combined implied price gains would add about 13 points to the Dow's price, while Dow futures /zigman2/quotes/210407078/delayed YM00 +0.01% sank 103 points, or 0.4%. Meanwhile, shares of 3M Co. /zigman2/quotes/205029460/composite MMM -1.64% dropped 2.6% to pace the Dow's early losers and McDonald's Corp. /zigman2/quotes/203508018/composite MCD -1.04% was next with a 1.5% decline, after both companies reported earnings misses. The combined implied price decline would shave about 50 points off the Dow's price.