NEW YORK (TheStreet) -- U.S. stock futures were suggesting a higher open for Wall Street on Tuesday despite data that showed Europe's output shrank 0.2% in the second quarter.
European stocks were holding onto gains while shares in Asia closed Tuesday's session higher. Japan's Nikkei 225 rose 0.5% to finish at 8,929.88.
Germany's economy helped lift Europe avoid another recession. The region's biggest economy grew by 0.3% in the second quarter.
The economic calendar in the U.S. Tuesday includes retail sales for July at 8:30 a.m. EDT, the producer price index for July at 8:30 a.m., and business inventories for June at 10 a.m.
U.S. stocks on Monday finished mixed as disappointing data on Japan's economic growth triggered some mild profit-taking after five weeks of gains. The Dow Jones Industrial Average lost more than 38 points, or 0.29%, to settle at 13,169. The S&P 500 lost 2 points, or 0.13%, to close at 1404. The Nasdaq gained nearly 2 points, or 0.05%, to finish at 3022.52.
Home Depot (HD) reports earnings before Tuesday's opening bell and analysts expect the home-improvement retailer to post profit for the July-ended quarter of 97 cents a share on revenue of $20.74 billion.
Groupon (GRPN), the daily deals site, beat analysts' quarterly estimates on the bottom line but revenue came in light. Groupon posted second-quarter non-GAAP earnings Monday of $53.8 million, or 8 cents a share, on revenue of $568.3 million. Analysts were calling for a profit of 3 cents a share in the quarter on revenue of $573.1 million.
Companies reporting before Tuesday's opening bell include AGCO (AG), Cache (CACH), Dick's Sporting Goods (DKS), Estee Lauder (EL), Michael Kors Holdings (KORS), National Semiconductor (NSM), Plug Power (PLUG), Saks (SKS), TJX (TJX), and Valspar (VAL). Reporting after Tuesday's closing bell are Bob Evans Farms (BOBE), Crown Crafts (CRWS), DayStar Technologies (DSTI), JDS Uniphase (JDSU), KongZhong (KONG), andLifeway Foods (LWAY).
Apple's highly anticipated iPhone 5 will be available for pre-order on Sept. 12, according to an iMore report.
Google (GOOG) is acquiring the Frommer's travel-guide business from John Wiley & Sons (JWB) for a reported $25 million.
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