Futures trading indicates that the DJIA is expected to open 28 points lower, just below the 17,000 level, and the S&P 500 expected to open 3 points lower at 1,974, while the Nasdaq Composite is set to open 1 point lower.
The stakes are high for this round of company updates, with stock markets having rallied to fresh all-time highs in recent days on the back of improving macro economic data and the expectation that it will translate into improved corporate earnings.
"Earnings season kicks off today, with
Analysts are expecting
As well as the expectation of stronger earnings this quarter, US stocks have been pushed to their recent highs by the consistent message from the Federal Reserve that interest rates are staying low for some time to come. Investors will therefore be listening to Minneapolis Federal Reserve president
Outside of any unexpectedly positive corporate numbers, investors may well remain cautious towards equities ahead of the release of the minutes from the June Federal Reserve policy meeting, due on Wednesday.
The US NFIB business optimism index, just released, will do little to lift stocks Tuesday. The small business sentiment tracker came in lower than expected at 95.0 in June, down from 96.6 in May, missing economists expectations for a rise to 97.3.
Economic data released from the
The injection of a profit warning in the European airline sector Tuesday, this time from
Heading towards the
The pound is amongst the worst performing major currencies Tuesday, although it has recovers from earlier lows reached after the disappointing
Economists point out that the industrial and manufacturing production data are a volatile series, and indeed the last time manufacturing output showed a significant fall was a 1.0% decline in
Still of interest in the
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