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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 extend the upward move seen in recent sessions.
The upward momentum on Wall Street comes as upbeat earnings news has offset concerns about the ongoing trade dispute between the U.S. and China.
Stocks fluctuated over the course of the trading session on Monday before ending the day mostly higher. With the upward move, the major averages added to the gains posted last Friday.
The major averages all ended the day in positive territory. The Dow rose 39.60 points or 0.2 percent to 25,502.18, the Nasdaq advanced 47.66 points or 0.6 percent to 7,859.68 and the S&P 500 climbed 10.05 points or 0.4 percent to 2,850.40.
The choppy trading on Wall Street came as traders seemed reluctant to make any significant moves amid a lack of major U.S. economic news following the slew of data and events last week.
The economic calendar remains relatively light throughout the week, although traders are likely to keep an eye on reports on producer and consumer price inflation.
On the earnings front, Disney (DIS), Tenet Healthcare (THC), Office Depot (ODP), CVS Health (CVS), and 21st Century Fox (FOXA) are among the companies due to report their quarterly results this week.
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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 scheduled to announce the results of its auction of $34 billion worth of three-year notes.
The Federal Reserve is due to release its report on consumer credit in the month of June. Consumer credit is expected to increase by $15.3 billion. |
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| | Europe |
European stocks advanced on Tuesday as investors brushed aside trade worries and oil prices extended gains following renewed U.S. sanctions on Iran.
The pan-European Stoxx Europe 600 index was up half a percent at 390.64 in late opening deals after declining 0.1 percent on Monday.
The German DAX was rallying 0.9 percent, France's CAC 40 index was moving up 0.7 percent and the U.K.'s FTSE 100 was rising 0.6 percent.
Automakers surged as the dollar strengthened against most currencies. BMW, Daimler, Volkswagen, Renault and Peugeot all rose around 1 percent.
Commerzbank shares fell 2 percent in Frankfurt. The lender swung to a profit in its second quarter but raised its cost target for 2018.
Rising commodity prices helped lift mining and energy firms. BHP Billiton, Anglo American, Rio Tinto, Antofagasta and Glencore climbed 2-3 percent while energy firms BP Plc, Total SA and Tullow Oil were up 1-2 percent.
Italian lender UniCredit jumped 2.4 percent after its Q2 profit rose on lower operating costs and a decline in write-downs on loans and provisions.
Bonduelle slumped 6 percent in Paris after warning of slower growth in FY 2018-19.
Danish jeweler Pandora plummeted 19 percent after the company trimmed its sales and profit margin guidance for this year.
In economic releases, German exports remained unchanged while industrial production declined more than expected in June, separate reports from Destatis showed.
U.K. like-for-like sales grew only slightly in July as hot weather weighed on demand for non-food products, data from the British Retail Consortium and KPMG revealed.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian stocks turned in a mixed performance on Tuesday as fears over U.S-China trade tensions offset higher oil prices and upbeat corporate earnings results from the U.S.
Iranian President Hassan Rouhani dismissed calls for talks with the U.S. as the first phase of sanctions came into effect overnight. Rouhani said that America "cannot be trusted" and wants to "create chaos in Iran".
Chinese shares bounced back on bargain hunting after recent steep losses on concerns about the impact of trade war on businesses.
The benchmark Shanghai Composite index jumped 74.22 points or 2.74 percent to 2,779.37 while Hong Kong's Hang Seng index rallied 1.54 percent to finish at 28,248.88.
Japanese shares rose as Chinese markets rebounded and heavyweight SoftBank posted strong first-quarter results. The Nikkei average climbed 155.42 points or 0.69 percent to 22,662.74 while the broader Topix index closed 0.76 percent higher at 1,746.05.
SoftBank shares soared 6.5 percent to hit a nine-month high after the company reported a 49 percent jump in quarterly operating profit, helped by its sale of shares in Indian e-commerce firm Flipkart.
Japan Steel Works jumped 18.5 percent and Rakuten advanced 6.8 percent after well-received earnings updates. Pioneer Corp plummeted 23.7 percent after its Q1 net loss widened from last year.
In economic news, a government report showed that the average of household spending in Japan fell an annual 1.2 percent in June, coming in at 267,641 yen. That exceeded expectations for a decline of 1.4 percent following the 3.9 percent drop in May.
Australian shares closed lower after the country's central bank kept its key interest rate unchanged, as widely expected, saying the unchanged policy is consistent with sustainable growth in the economy and achieving the inflation target over time.
The benchmark S&P/ASX 200 index dropped 19.10 points or 0.30 percent to 6,253.90 while the broader All Ordinaries index ended down 18.20 points or 0.29 percent at 6,340.80.
A drop in base metal prices pulled down mining stocks, with BHP Billiton and Rio Tinto losing 1.4 percent and 0.8 percent, respectively. Packaging firm Amcor tumbled 5.8 percent after it agreed to take over U.S. rival Bemis Company Inc.
Wesfarmers edged up slightly after it agreed to sell its 40 percent stake in the Bengalla Joint Venture thermal coal mine project to partner New Hope Corp for A$860 million (S$867 million). New Hope Corp shares soared 11 percent.
Banks ANZ, NAB and Westpac rose between 0.2 percent and 0.6 percent. Energy firm Santos climbed 2.8 percent and Beach Energy jumped 4.7 percent after oil prices rose on Monday amid reports that Saudi crude production unexpectedly fell in July.
In economic releases, the latest survey from the Australian Industry Group revealed that the construction sector in Australia continued to expand in July, and at a faster pace, with an index score of 52.0, up from 50.6 in the previous month.
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| | Commodities |
Crude oil futures are climbing $0.67 to $69.68 a barrel after rising $0.52 to $69.01 a barrel on Monday. Meanwhile, after rising falling $5.50 to $1,217.70 an ounce in the previous session, gold futures are up $3.90 at $1,22.60 an ounce.
On the currency front, the U.S. dollar is trading at 110.01 yen compared to the 110.40 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.605 compared to yesterday?s $1.554.
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