Dow Futures Up 160 Pts; Tencent in Spotlight on Regulation Concerns By Investing.com – Investing.com

Dow Futures Up 160 Pts; Tencent in Spotlight on Regulation Concerns By Investing.com – Investing.com

© Reuters.

By Peter Nurse   

Investing.com - U.S. stocks are seen edging higher at the open Tuesday, with investors focusing on the corporate earnings season and the risk of slowing economic growth as Covid cases rise.

At 7:05 AM ET (1105 GMT), the contract was up 160 points, or 0.5%, traded 16 points, or 0.4%, higher and gained 16 points, or 0.1%.

The second-quarter earnings season has been generally positive, with over 88% of the corporate reports beating analysts' second-quarter profit estimates, according to Refinitiv data, the highest percentage on record based on data going back to 1994.

More earnings are due Tuesday, with the likes of Eli Lilly (NYSE:), Marriott International (NASDAQ:), Under Armour (NYSE:), Lyft (NASDAQ:) and Amgen (NASDAQ:) set to release numbers during the session.

Away from earnings, Tencent Holdings (OTC:) will be in the spotlight after an article in a state-owned Chinese daily criticized videogaming companies and the impact they have on the young, stoking fears that the gaming sector may be next in the firing line of the Chinese authorities. The article was subsequently taken down and reposted without some of its strongest criticisms.

PepsiCo (NASDAQ:) announced plans to