Wall Street set to open in the green as big banks kick off earnings season

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Stock markets

Earnings seasons is here

Stock markets in the U.S. are poised for a higher open Tuesday, ahead of the start of third-quarter earnings season.

Investors are awaiting a slew of reports, with JPMorgan Chase (NYSE: JPM), Wells Fargo (NYSE: WFC), Goldman Sachs (NYSE: GS), and Citigroup (NYSE: C) are all scheduled to publish their quarterly results before the opening bell.

Johnson & Johnson (NYSE: JNJ), UnitedHealth Group (NYSE: UNH), Charles Schwab (NYSE: SCHW) are also set to report ahead of the bell. United Airlines (NASDAQ: UAL) is slated to announce after the close.

By 5:20 a.m. ET, the blue-chip Dow futures rose 92 points, or about 0.34% to 26,838. The S&P 500 futures indicated a gain of 11.62 points, or 0.39% to 2,977.12 while the tech-heavy Nasdaq 100 futures were up 34 points, or roughly 0.43% to 7,891.50.

Trump levies steel tariffs on Turkey

President Donald Trump on Monday reimposed 50% tariffs on Turkey’s steel and halted talks regarding a $100 billion trade deal with the country to protest its offensive into Syria. The president also authorized sanctions on former and current Turkish officials.

Late last week, Trump ordered some U.S. troops to withdraw from a portion of Northern Syria, a move that cleared the way for a Turkish operation against Kurdish-led forces in the area. The decision provoked a hostile response from both Democrats and Republicans.

Brexit deal is still possible, says Michel Barnier

European Union top negotiator Michel Barnier said early Tuesday that striking a Brexit deal with the United Kingdom will be more and more difficult but it is still possible this week.

“Our teams are working hard, and work has just started now today. This work has been intense over the weekend and yesterday, because even if the agreement will be difficult, more and more difficult, to be frank, it is still possible this week,” he told reporters.

The British pound jumped as much as 0.7% to $1.2699 after Barnier’s remarks.

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