A handful of retail earnings will be in focus Tuesday morning, headlined by Dow component Home Depot.
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The Chinese economy showed signs of further slowing. German growth was better than expected in the quarter and Turkey’s Lira weakened slightly as that country’s central bank pledged to provide liquidity.
Dow Jones futures were rising by 0.45%. The S&P 500 added 0.45% and the Nasdaq Composite was up 0.60%.
2Q earnings season is fast winding down, with just over 90% of the companies in the S&P 500 having posted their April-through-June results, with the numbers coming in well ahead of expectations.
“Retailers are thriving for a few reasons: the US economy is strong, and U.S. consumers confidence is at its highest level since 2000, lifting retail sales almost 7% year-over-year from June, Jonathan Hoenig of Capitalistpig.com told FOX Business in a statement. “Retailers have also been responding to Amazon by closing stores, which is improving their bottom line.”
On the US economic agenda, traders will get another measure of inflation with import and export prices.
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U.S. stocks were lower Monday, with the Dow firmly in the red as the economic problems in Turkey dented investors’ appetite for risk.
The Dow Jones Industrial Average fell 125.44 points, or 0.5%, to 25,187.70. The S&P 500 was down 11.35 points, closing at 2,821.93. The Nasdaq Composite dropped 19.4 points, or 0.25%, to 7,819.71.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 25187.7 | -125.44 | -0.50% |
| SP500 | S&P 500 | 2821.93 | -11.35 | -0.40% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7819.7058 | -19.40 | -0.25% |
In Europe, Gross domestic product in Germany expanded by 0.5 percent quarter-on-quarter, the Federal Statistics Office said. That compared with a Reuters forecast of 0.4 percent.
European markets are trading higher. Germany’s DAX leads the way up 0.63%, London’s FTSE is up 0.28% and France’s CAC gained 0.40%.
Chinese economic data was softer than expected, sending markets lower on Tuesday.
Investment growth slowed to a record low and consumers turned more cautious about spending.
China’s Shanghai Composite index ended the session down 0.2%.
Hong Kong’s Hang Seng Index was down 0.95%.
Japan’s Nikkei share average bucked the trend, finishing the day jumping 2.28%, as the Yen paused with the Turkish currency firming.
FOX Business’ Leia Klingel contributed to this article.
