US Futures Rise Ahead of Key Earnings; Yen Gains as Japan PM Vows to Stay After Vote Loss – Europe Market Wrap

US stock futures climbed ahead of a busy earnings week that will include results from Tesla Inc. and Alphabet Inc. The yen strengthened as Japan’s Prime Minister vowed to stay in power even after an election defeat.

S&P 500 contracts added 0.3% and Europe’s Stoxx 600 Index was little changed. Stellantis slid 1.5% after reporting a loss in the first half as restructuring expenses, slowing sales and US tariffs hit the struggling automaker. Ryanair rallied 6.4% on strong earnings. The yen strengthened 0.6% while the dollar slipped.

With US stocks hovering near all-time highs, traders will be watching a slate of corporate reports this week for signs of economic resilience in the face of tariff risks. Companies accounting for about a fifth of the S&P 500’s market capitalization are expected to post results this week.

Morgan Stanley strategists recommended investors stay bullish on US stocks, while their peers at Goldman Sachs Group said the earnings season has had a solid start. European earnings have been mixed so far, with data compiled showing MSCI Europe companies are on track to report a 4.6% decline in profits, slightly smaller than analysts expected.

Still, there are growing concerns about whether America’s trading partners will be able to reach a deal before the latest tariffs deadline on Aug. 1. European Union and US negotiators are heading into another week of intensive talks to try to break an impasse.

Treasuries extended their advance to a fourth day, sending the 10- year yield down four basis points. A gauge of dollar strength slipped 0.2%.