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| | US Market |  | | NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | | The major U.S. index futures are pointing to a higher opening on Tuesday, with stocks likely to move to the upside following the mixed performance seen in the previous session.
The upward momentum on Wall Street partly reflects a positive reaction to the latest earnings news from big-name companies such as Google parent Alphabet (GOOGL).
Shares of Alphabet are jumping by 4.5 percent in pre-market trading after the tech giant reported better than expected quarterly results.
Drug giant Eli Lilly (LLY) is also seeing pre-market strength after reporting second quarter results that exceed expectations and announcing plans to spin off its Elanco Animal Health unit.
Trading activity may be somewhat subdued, however, with a lack of major U.S. economic data likely to keep some traders on the sidelines.
Following the lackluster performance seen last week, stocks continued to show a lack of direction during trading on Monday.
The major averages eventually ended the session mixed. While the Dow dipped 13.83 points or 0.1 percent to 25,044.29, the Nasdaq rose 12.67 points or 0.3 percent to 7,841.87 and the S&P 500 inched up 5.15 points or 0.2 percent to 2,806.98.
The choppy trading on Wall Street came following the release of a report from the National Association of Realtors showing an unexpected drop in existing home sales in the month of June.
NAR said existing home sales fell by 0.6 percent to an annual rate of 5.36 million in June from a downwardly revised rate of 5.41 million in May. Economists had expected existing home sales to climb by 0.5 percent.
"There continues to be a mismatch since the spring between the growing level of homebuyer demand in most of the country in relation to the actual pace of home sales, which are declining," said NAR chief economist Lawrence Yun.
He added, "The root cause is without a doubt the severe housing shortage that is not releasing its grip on the nation's housing market."
The unexpected drop in existing home sales came as declines in the South and West exceeded sales gains in the Northeast and Midwest.
While most of the major sectors showed only modest moves on the day, considerable weakness was visible among oil service stocks. Reflecting the weakness in the sector, the Philadelphia Oil Service Index slumped by 2.2 percent.
Gold and housing stocks also moved to the downside, while significant strength was visible among financial and steel stocks.
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| | U.S. Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | |
At 1 pm ET, the Treasury Department is due to announce the results of its auction of $35 billion worth of two-year notes. |
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| | Europe |
European stocks have followed their Asian peers higher on Tuesday after the State Council, China's cabinet, said the country would adopt a more 'vigorous' fiscal policy to support the economy.
While the German DAX Index has surged up by 1.5 percent, the French CAC 40 Index is up by 1 percent and the U.K.?s FTSE 100 Index is up by 0.9 percent.
Banks and mining stocks are at the forefront as bond yields inched higher on speculation of a shift in BoJ policy and copper prices rebounded on concerns over possible disruptions to supply.
In economic news, Eurozone private sector activity growth weakened in July, flash survey results from IHS Markit revealed. The composite output index dropped to 54.3 from 54.9 in June. Analysts expected the score to fall slightly to 54.8.
UBS has jumped after the Swiss bank reported a 9 percent rise in second-quarter profits and said rising interest rates in the U.S. will further support its global wealth management unit.
Real estate firm Hammerson has also risen in London after launching a share buyback program.
BT Group has also moved higher after the British telecom firm said that the creation of a more independent Openreach Limited is nearing completion.
Edenred shares have jumped in Paris. The French prepaid meal voucher and card provider group forecast higher annual profits after delivering strong growth in the first half of the year.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian stocks closed broadly higher on Tuesday as investors put trade worries on the back burner and shifted focus to the earnings season.
China's Shanghai Composite Index jumped 46.02 points or 1.6 percent to 2,905.56 after the country's central bank injected record liquidity into the banking system via a medium-term lending facility to alleviate funding pressure.
Market sentiment also got a boost after the State Council, China's cabinet, said the country would adopt a more vigorous fiscal policy to support the economy.
In another development, Beijing said it has no intention to devalue the yuan to help exports. Hong Kong's Hang Seng Index surged up 406.45 points or 1.4 percent to 28,662.57.
Japanese shares rebounded after sharp losses in the previous session as the yen rally lost steam and data showed the Japanese manufacturing sector continued to expand in July, but at a slower pace.
The Nikkei 225 Index rose 113.49 points or 0.5 percent to 22,510.48 after falling 1.3 percent the previous day. The broader Topix gained 0.5 percent to close at 1,746.86.
Oil refiner Showa Shell Sekiyu climbed 2 percent and surveying equipment maker Ono Sokki soared 6 percent after upbeat earnings forecasts.
Banks Mitsubishi UFJ Financial and Sumitomo Mitsui Financial rose around half a percent after 10-year U.S. Treasury yields jumped to their highest in five weeks on speculation of a shift in BoJ policy and expectations of further gradual interest rate increases from the Federal Reserve.
Meanwhile, electronic components maker KOA Corp slumped 10 percent after reporting a 3.4 percent drop in second quarter operating profit.
Australian markets rose notably, with the benchmark S&P/ASX 200 Index rising 38.20 points or 0.6 percent to finish at 6,265.80. The broader All Ordinaries Index ended up 35.10 points or 0.6 percent at 6,355.20.
Banks ended on a mixed note, while investment bank Macquarie Group advanced 1.3 percent. Miners BHP Billiton, Rio Tinto and Alumina gained 1-2 percent.
Online retailer Kogan.com slumped 11.8 percent despite the company posting encouraging fourth quarter and full-year earnings results.
A gauge of Australian consumer confidence dropped to 118.9 during the week ended July 22 from 121.5 in the preceding week, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed. The decline was primarily driven by weakening sentiment around current and future economic conditions.
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| | Commodities |
Crude oil futures are rising $0.35 to $68.24 a barrel after falling $0.37 to $67.89 a barrel on Monday. Meanwhile, after sliding $5.50 to $1,225.60 an ounce in the previous session, gold futures are inching up $0.80 to $1,226.40 an ounce.
On the currency front, the U.S. dollar is trading at 111.17 yen compared to the 111.35 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.1695 compared to yesterday?s $1.1692.
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