Technology stocks are poised to open mostly higher on a busy day of earnings, including results from Microsoft and Google parent Alphabet. Second-quarter earnings season is in full swing, with nearly 170 companies in the S&P 500 reporting this week.
Spotify was among the companies that posted results ahead of Tuesday's market open. Its stock fell sharply premarket after it reported steeper losses from podcasting cuts and higher royalty costs.
Meanwhile, Hong Kong stocks rallied Tuesday after one of China’s top decision-making bodies signaled support for the stumbling economy, including possible measures to aid the property sector. Real-estate stocks soared, with Country Garden Services jumping 18% in Hong Kong.
U.S. stock futures rose. Futures tied to the Nasdaq-100 led gains, a day after the index’s rebalancing. Contracts tied to the S&P 500 and the Dow industrials edged up. The Dow has risen for 11 straight sessions.
Chinese stocks rallied. Hong Kong’s Hang Seng Index gained 4.1%, while the Shanghai Composite rose 2.1%. Japan’s Nikkei 225 edged lower and the Stoxx Europe 600 crept up.
U.S. bond yields ticked up. The yield on the benchmark 10-year Treasury note rose, after settling at 3.855% Monday.
The WSJ Dollar Index edged down, while China’s yuan gained against the dollar.
Tuesday’s earnings schedule: Alphabet, Microsoft and Snap are due after the close.
Data watch: The Federal Reserve will begin its two-day policy meeting. Data on the U.S. housing market is due before markets open, followed by the Conference Board’s consumer-confidence reading for July at 10 a.m. ET.
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