Global Markets Steady Amid Company Earnings, Trade Uncertainty

By Dow Jones Newswires StaffGlobal markets stabilized on Tuesday, even as company earnings reflected the damage of ongoing trade uncertainty.Early in Europe, U.S. stock futures were up, stock markets in Asia closed higher and the dollar and Treasury yields steadied. Most European markets opened higher.U.S. stock futures for the Dow Industrials were up 0.14%, S&P futures up 0.18% and Nasdaq futures up 0.22%.In Europe, the Stoxx Europe 600 climbed 0.2% in morning trading amid a slew of earnings. The FTSE 100 was trading around the flatline and Germany's DAX was up 0.6%. Major movers included BP, down 3.8%, and Porsche nearly 6% down after a profit warning, while Rheinmettall shares rose nearly 6%.Asian stock markets were mixed. The Shanghai Composite Index slipped 0.1% even as China appeared to soften its stance on tariffs after Beijing said it is willing to support normal business cooperation with American firms. South Korea's Kospi ended up 0.65% and Australia's S&P/ASX 200 Benchmark Index added 0.9%. Markets in Japan were closed for the Showa Day public holiday.The dollar rose a touch even as it remains exposed to the trade uncertainty. The DXY dollar index against a basket of major currencies was last up 0.2% at 99.1730. The two- and 10-year Treasury yields were flat at 3.686% and 4.205%, respectively, according to LSEG.The Canadian dollar edged lower after Canada's Liberal Party won a fourth term in office but appeared short of a majority in parliament. The currency's slight weakness is "likely due to the fact that the Liberals now need support from smaller parties to push their agenda through parliament," Commerzbank's Michael Pfister said in a note. The U.S. dollar was last up 0.1% at 1.3836 Canadian dollars.Oil prices extended their losses from the previous trading session; Brent crude and WTI were both down 1.3% to $63.95 and $61.20 a barrel, respectively.Write to Barcelona Editors at [email protected]