• Tuesday will see the likes of Coca-Cola, Biogen, Lockheed Martin, United Technologies and Harley-Davidson report before the bell. Chubb, Visa, Chipotle and Snap are among those reporting after the bell.
  • Chipmaker stocks will be worth watching on Tuesday, after Apple supplier AMS said it expects strong revenue and profit growth in the third quarter following an increase in deliveries of its 3D optical sensors, which helped swing it back to profit in the second quarter.

U.S. stock index futures were cautiously higher Tuesday morning as investors hope for better-than-expected earnings from a host of corporate giants in the coming days.

As of 2:50 a.m. ET, Dow futures were up 26 points and pointed to an implied open of around 44 points, while futures on the S&P 500 and Nasdaq also inched higher.

Meanwhile, global stocks appeared to receive support from expectations that the European Central Bank (ECB) and the Federal Reserve could soon cut interest rates. The ECB is seen cutting rates by 10 basis points on Thursday, with the U.S. central bank expected to lower rates by 25 basis points at the end of the month.

Stocks climbed slightly on Monday as Wall Street kicked off a big week of earnings, with more than a quarter of the S&P 500 reporting this week including Facebook, Google’s parent Alphabet, Amazon, McDonald’s and Boeing.

Tuesday will see the likes of Coca-Cola, Biogen, Lockheed Martin, United Technologies and Harley-Davidson report before the bell. Chubb, Visa, Chipotle and Snap are among those reporting after the bell.

Swiss banking heavyweight UBS beat forecasts with a $1.4 billion net profit for the second quarter, with gains in its advisory business offsetting investment banking losses.

Economic data will also be in focus, with May’s Federal Housing Finance Agency House Price Index (HPI) due at 9:00 a.m. ET and June’s existing home sales figures set for release at 10:00 a.m. ET

Chipmaker stocks will be worth watching on Tuesday, after Apple supplier AMS said it expects strong revenue and profit growth in the third quarter following an increase in deliveries of its 3D optical sensors, which helped swing it back to profit in the second quarter.

On Monday, Applied Materials, Micron Technology and Lam Research all rose at least 3.7% after Goldman Sachs upgraded them.

Source: CNBC