Updated with corporate earnings information
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Here are five things you must know for Tuesday, Aug. 8:
1. -- U.S. stock futures pointed to a lower open for Wall Street on Tuesday, Aug. 8, while European and Asian markets traded mixed following modestly weaker trade data from China.
Futures for the Dow Jones Industrial Average were up slightly. If the Dow was to finish lower on Tuesday, it would end a nine-day streak in which the index closed at all-time highs.
The Dow gained 0.12% on Monday, Aug. 7, securing a new record close of 22,118. The S&P 500 also ended at a record of 2,480.
Japan's Nikkei 225 fell 0.3% on Tuesday while the Shanghai Composite rose just 0.1% after China's trade growth weakened in July. Economists have estimated that Chinese growth in 2017 is likely to slow.
The economic calendar in the U.S. on Tuesday includes the Job Openings and Labor Turnover Survey for June at 10 a.m. ET.
Oil prices in the U.S. early Tuesday rose 0.4% to $49.57 a barrel.
The 10-page memo, titled "Google's Ideological Echo Chamber" went viral within Google last week and was first reported externally by the tech blog Motherboard. In it, the male author said that women were underrepresented in technology because of inherent psychological differences between men and women.
Google hasn't publicly named the author of the memo but Bloomberg reported that software engineer James Damore confirmed in an email that he had been let go for "perpetuating gender stereotypes" and was exploring legal action against the company. Internal discussion boards seen by Bloomberg suggested that multiple employees supported the dismissal of the employee and said they would choose not to work with him.
Google CEO Sundar Pichai on Monday evening wrote to staff saying that portions of the memo violated the company's code of conduct and "cross the line by advancing harmful gender stereotypes in our workplace."
3. -- Shares of Avis Budget Group Inc. (CAR) - Get Avis Budget Group, Inc. Report were down 8.7% in premarket trading on Tuesday after the company's second-quarter earnings and sales came in below Wall Street forecasts.
Adjusted for one-time items, Avis said it earned 30 cents a share in the quarter, well shy of forecasts that called for profit of 52 cents. For the full year, Avis said it now sees earnings of $2.40 to $2.85 a share, largely below analysts' estimates of $2.85.
The ugly miss from Avis comes amid hot debate on Wall Street about the future of rental car companies.
4. -- CBS Corp. (CBS) - Get CBS Corporation Class B Report shares rose 0.6% in after-hours trading on Monday after the media company's second-quarter earnings and revenue topped forecasts and said it would launch by year's end a digital standalone sports subscription service to go along with CBS All Access, the online facsimile of its top-ranked network launched in October 2014.
CEO Leslie Moonves said CBS's new sports service would "look to differentiate ourselves from ESPN and Fox Sports."
The company also said Monday that its digital subscription platforms will amass more than 4 million total subscribers in 2017, and Chief Operating Officer Joseph Ianniello declared its 8 million subscriber goal by 2020 "conservative."
5. -- Valeant Pharmaceuticals International Inc. (VRX) reported a second-quarter loss of 11 cents a share, narrower than the loss a year earlier of 88 cents. The company also cut its 2017 revenue guidance. Valeant shares rose 0.5% in premarket trading.
Michael Kors Holdings Ltd. (KORS) reported quarterly earnings of 80 cents a share, topping estimates of 62 cents. Sales of $923.5 million also beat forecasts. The stock jumped 12.8% in premarket trading on Tuesday.
Earnings are also expected Tuesday from Walt Disney Co. (DIS) - Get Walt Disney Company Report , Fossil Group Inc. (FOSL) - Get Fossil Group, Inc. Report , Ralph Lauren Corp. (RL) - Get Ralph Lauren Corporation Class A Report , Discovery Communications Inc. (DISCA) - Get Discovery, Inc. Class A Report , Lions Gate Entertainment Corp. (LGF) and Priceline.com Group Inc. (PCLN) .
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