European stocks rose while US equities were expected to rebound higher on Tuesday, after President Donald Trump offered a projection in relation to how much longer Washington and Beijing could be locked in heated trade negotiations, stating “We’ll let you know in three or four weeks if it’s successful”.

Perhaps sensing the breadth of the selling on Wall Street, Trump also told reporters in the White House that a meeting with Chinese President Xi Jinping at next month’s G-20 summit in Japan would be “very fruitful”, adding that “I have a feeling it’s going to be very successful”.

The trade brawl between Washington and Beijing looks to keep markets on edge until then, as many investors fear a larger breakdown could damage global growth.

These moves come after recent losses, on Monday, where all three major US benchmarks, the S&P 500 (-2.51%), Dow Jones (-2.48%) and Nasdaq 100 (-3.47%), had extended their declines following China’s $60 billion retaliatory tariff hike; targeted at some of the biggest US exporters, US farmers, as well as the soybean and cotton markets.

Ahead, in today’s economic calendar, Tuesday includes; Import and Export Prices for April at 8:30am EST.

In corporate news; Aurora Cannabis (ACB), Tilray (TLRY), Ralph Lauren (RL) and Agilent Technologies (A) are amongst the largest companies to report their financials today.

China & Trade: US Readies New Tariffs as Trump Says He’ll Meet China’s Xi. (Bloomberg)
The US prepared to hit China with new tariffs even as President Donald Trump said he’ll meet his Chinese counterpart, Xi Jinping, at next month’s G-20 summit, an encounter that could prove pivotal in a deepening clash over trade.

Energy & Oil: Oil prices jump as Saudi energy minister reports drone ‘terrorism’ against pipeline infrastructure. (CNBC)
The incident is an “act of terrorism,” Saudi Energy Minister Khalid al-Falih said according to the state new agency SPA, describing attacks on two oil pumping stations near Riyadh for the country’s East-West pipeline carried out with bomb-laden drones.

Today’s Economical Announcements.

08:30AM – ★★☆ – Export Price Index (MoM) (Apr) (Previous: 0.7%)
08:30AM – ★☆☆ – Import Price Index (MoM) (Apr) (Previous: 0.6%)

Pre-Market Movers & News Related Stocks.

CyberArk Software (CYBR): [EARNINGS] Reported adjusted quarterly profit of 56 cents per share, 15 cents a share above estimates. Revenue also beat forecasts. CyberArk said it had record cash flow during the quarter, and issued a better-than-expected full-year earnings forecast.

Tencent Music (TME): [EARNINGS] Reported better-than-expected profit for its latest quarter, although its revenue was slightly below analysts’ forecasts. The China-based music streaming service said its bottom line was helped by charging for a greater percentage of its content. (AMZN): [NEWS] Expanded its lead as the world’s most valuable retail brand in an annual survey from advertising firm WPP. The survey said Amazon’s brand value jumped 91% over the past year to $316 billion, while No. 2 Alibaba saw its value rise 48% to $131 billion.

Coca-Cola (KO): [UPGRADE] Upgraded to “overweight” from “equal weight” at Morgan Stanley, which said the beverage giant’s growth prospects are not reflected in the current valuation.

Tyson Foods (TSN): [UPGRADE] Upgraded to “outperform” from “neutral” at Credit Suisse, which thinks the current stock price does not reflect the potential for higher chicken, beef, and pork prices from the outbreak of African Swine Fever.

Take-Two Interactive (TTWO): [EARNINGS] Reported adjusted quarterly profit of 78 cents per share, 3 cents a share above estimates. Revenue was below forecasts, however, and the company gave a weaker-than-expected outlook as it continues to face intense competition from Fortnite and other popular games.

Facebook (FB): [NEWS] Facebook could be subject to 20 years of government oversight as part of a potential agreement with the US government.

Walmart (WMT): [NEWS] Walmart will spend $800 million to expand its next-day delivery service to more US homes.

CVS Health (CVS): [NEWS] Will be involved in up to three days of hearings next month regarding its $69 billion merger with insurer Aetna. The deal has already closed, but still needs final court approval.

T-Mobile (TMUS): [NEWS] T-Mobile and Sprint (S) are considering concessions to win approval for their planned $26.5 billion merger deal, according to a Bloomberg report.