On the corporate front, there will be results from the likes of Goldman Sachs, Netflix, Tesla and Johnson & Johnson later in the week. Retail sales are expected to have risen 0.5% on a monthly basis in June, according to FXStreet cited consensus. The economic calendar has retail sales data for the US at 1330 BST, followed by a US industrial production print at 1415 BST. "US retail sales prints for June will be closely followed as there's a risk we could see this move into a contraction phase, something that would have the potential to rattle sentiment." Futures suggest that momentum may be lacking ahead of Tuesday's open, although with a slew of announcements expected, price action is unlikely to be short lived for long," Scope Markets analyst Joshua Mahony commented. "With limited corporate and economic news flow on Monday along with that weaker-than-expected Chinese GDP print, the fact Wall Street managed to advance modestly yesterday is worthy of note. In New York, the Dow Jones Industrial Average is called up 0.1%, the S&P 500 flat and the Nasdaq Composite down 0.1%. Against the yen, the dollar was quoted at JPY138.22, down versus JPY139.11. The euro traded at USD1.1259, higher than USD1.1231. Sterling was quoted at USD1.3118 early Tuesday afternoon, higher than USD1.3080 at the London equities close on Monday. In European equities on Tuesday, both the CAC 40 in Paris and the DAX 40 in Frankfurt were marginally higher. The Cboe UK 100 was marginally lower at 738.88, the Cboe UK 250 was up 0.6% at 16,258.68, and the Cboe Small Companies was up 0.3% at 13,460.07.
Bank of America and Morgan Stanley are among those that report on Tuesday and the former kicked things off with a profit hike. Stocks in New York are called to open mixed, meanwhile, with focus on the latest batch of corporate earnings. (Alliance News) - London's FTSE 100 was ever-so-slightly higher heading into Tuesday afternoon, supported by gains for housebuilding stocks on hope UK inflation is easing, and grocer Ocado.
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