US Stock Futures Rise, European Markets Mixed Amidst Corporate Earnings Focus.

US stock futures rose while European indexes were mixed as investors shifted focus to corporate earnings. President Trump's push for minimum tariffs on EU imports was largely ignored. Asian stocks closed higher despite Japan being closed for a public holiday. Dow Jones and S&P 500 futures were up around 0.2%, while Nasdaq futures gained 0.3%.

US stock futures rose while European indexes were mixed as investors shifted focus to corporate earnings. President Trump's push for minimum tariffs on EU imports was largely ignored. Asian stocks closed higher despite Japan being closed for a public holiday. Dow Jones and S&P 500 futures were up around 0.2%, while Nasdaq futures gained 0.3%.

European shares were subdued early in the session on Monday as investors assessed a mixed bag of corporate earnings while awaiting a potential trade deal between the United States and the European Union [1]. The pan-European STOXX 600 index was down 0.01% at 546.97 points, as of 0719 GMT. U.S. Commerce Secretary Howard Lutnick said on Sunday he was confident that Washington can secure a trade deal with the EU, but August 1 is a hard deadline for tariffs to kick in [1]. He added there is "plenty of room" for a deal after speaking with European negotiators.

European basic resources gained 2.6%, the most among sectors, while automobile fell 0.3% [1]. Among stocks, Ryanair gained 5.8% and was one of the biggest percentage gainers in the STOXX 600, after Europe’s largest low-cost carrier’s net profit more than doubled in its April-June quarter [1]. Conversely, Stellantis (NYSE:STLA) fell 2.4% after the automaker said it expects a net loss of 2.3 billion euros ($2.68 billion) for the first half of 2025 [1].

In contrast, European stock futures are trading higher as investors look to corporate earnings for cues [2]. Upbeat earnings from major US companies and strong US retail sales data have lifted optimism that markets can weather tariffs and shifting trade policy [2]. The US dollar is shuffling between gains and losses amid mixed signals, while Treasury yields are holding at levels near key numbers [2]. Oil futures are consolidating amid mixed signals, and gold is edging higher on possible position adjustments [2].

The market gains follow a dramatic wobble during the prior session when Trump said he was highly unlikely to fire Federal Reserve chair Jerome Powell, though he left the door open to the possibility of ousting him and renewed his criticism of the central bank chief for not cutting U.S. interest rates [2]. US retail sales rebounded more than expected in June, rising by 0.6% on a monthly basis to $720.1 billion, according to the US Census Bureau [2]. This reading came in better than the market expectation for an increase of 0.1% and reflects a 3.9% year-over-year increase [2]. The upbeat retail sales data has bolstered the USD, with the US Dollar Index up 0.55% at 98.82 [2].

Asian stocks closed higher despite Japan being closed for a public holiday [3]. The Nikkei futures, yen, and other Asian markets held their ground as Japanese elections proved bad for the government but no worse than already priced in [3]. Investors were also hoping for some progress in trade talks ahead of President Donald Trump's August 1 tariff deadline, with U.S. Commerce Secretary Howard Lutnick still confident a deal could be reached with the European Union [3]. There were reports Trump and Chinese leader Xi Jinping were closer to arranging a meeting, though likely not until October at the earliest [3].

References:
[1] https://www.investing.com/news/stock-market-news/european-shares-flat-as-investors-assess-mixed-earnings-focus-on-useu-trade-talks-4143042
[2] https://www.ainvest.com/news/emea-morning-briefing-corporate-earnings-boost-optimism-tariffs-shifting-trade-policy-2507/
[3] https://www.reuters.com/world/china/global-markets-wrapup-2-2025-07-21/