Trading may remain a little soft, however, as markets continue to be restrained by caution ahead of the most important economic announcements of the month, which are scheduled to begin on Wednesday with the initial estimate of US second quarter GDP, as well as the latest policy decision from the Federal Reserve.
Geopolitical events also continue to weigh on sentiment, as EU leaders meet in
Amid a lull in corporate earnings on Monday, US equities struggled for direction and closed broadly unchanged. Ahead of the opening bell Tuesday, futures trading indicates that a slightly higher start can be expected, with the S&P 500, the DJIA, and the Nasdaq Composite all set to open about 0.2% higher.
There are more earnings releases in the US corporate calendar Tuesday, however, with Merck and
The tobacco sector will also be back in focus Tuesday, following the recent merger and acquisition activity, as Reynold, of which British America Tobacco maintains a 42% stake, is due to report its second quarter numbers.
With social media stocks still under the spotlight following Fed Chair
The Federal Reserve Open Market Committee will no doubt have an eye on those earnings as it begins its two day July policy meeting Tuesday, although there will be no announcement from the FOMC until Wednesday, at which point it is widely expected to maintain its taper path by cutting monthly asset purchases by
In terms of data releases from the US on Tuesday, the latest consumer confidence survey is released at
Ahead of that, at
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