*ASIA MARKETS*
*Asia stocks set to trade little changed amid better than expected earnings stateside*
*KEY POINTS*
- _Futures pointed to a tepid open for Asia Pacific stocks._
- _Tensions remain high in the Middle East following Iran’s seizure of a British tanker last week, with oil prices seeing gains on Monday._
*Stocks in Asia* Pacific were poised to trade little changed on Tuesday following overnight gains on Wall Street as the earnings season rolls on.
Futures pointed to a tepid open for the Nikkei 225 in Japan. The Nikkei futures contract was at 21,405, as compared to the index’s last close at 21,416.79.
Shares in Australia were also set to trade subdued. The SPI futures contract was at 6,640.0, as compared to the S&P/ASX 200′s last close at 6,691.20.
*Overnight* stateside, the S&P 500 gained 0.3% to close at 2,985.03, while the Nasdaq Composite advanced 0.7% to end its trading day at 8,204.14. The Dow Jones Industrial Average added 17.70 points to close at 27,171.90.
Amid the ongoing earnings season, more than a quarter of the S&P 500 companies has reported earnings this week. So far, more than 15% of the S&P 500 has posted quarterly results. Of those companies, 78.5% have topped analyst expectations for earnings while 67% have reported better-than-expected quarterly revenues, according to FactSet data.
Meanwhile, the U.K. is set to find out who its next prime minister will be as it moves closer to the Brexit departure deadline of October 31.
Tensions remain high in the Middle East following Iran’s seizure of a British tanker last week, with oil prices seeing gains on Monday.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.257 after seeing lows below 97.2 yesterday.
The Japanese yen traded at 107.89 against the dollar after strengthening from the 108.0 handle in the previous session, while the Australian dollar changed hands at $0.7034 after slipping from highs above $0.705 yesterday.
Here’s a look at some of the data set to be released in the trading day ahead:
Singapore: Inflation data for June at 1:00 p.m. HK/SIN
South Korea earnings: LG Display, LG Innotek, Posco
By: via @AlliesFin Serve T.ME/ALLiESFiN
