) -- 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.


Dow Jones Industrial Average

lost more than 38 points, or 0.29%, to settle at 13,169.


S&P 500

lost 2 points, or 0.13%, to close at 1404. The


gained nearly 2 points, or 0.05%, to finish at 3022.52.

Home Depot

(HD) - Get Report

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.


(GRPN) - Get Report

, the daily deals site, beat analysts' quarterly estimates on the bottom line but revenue came in light.


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


(AG) - Get Report





Dick's Sporting Goods

(DKS) - Get Report


Estee Lauder

(EL) - Get Report


Michael Kors Holdings



National Semiconductor



Plug Power

(PLUG) - Get Report






(TJX) - Get Report

, and


(VAL) - Get Report


Reporting after Tuesday's closing bell are

Bob Evans Farms



Crown Crafts

(CRWS) - Get Report


DayStar Technologies



JDS Uniphase





, and

Lifeway Foods

(LWAY) - Get Report



highly anticipated

iPhone 5

will be available for pre-order on Sept. 12, according to an




(GOOG) - Get Report

is acquiring the Frommer's travel-guide business from

John Wiley & Sons


for a reported $25 million.

Peregrine Financial's

CEO Russell Wasendorf Sr. was indicted Monday on charges of lying to government regulators regarding the failed brokerage's operations.

Wasendorf could be sentenced to a maximum 155 years in prison and face fines of about $7.75 million.

Peregrine does business as


. It filed for bankruptcy last month.

-- Written by Joseph Woelfel

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Joseph Woelfel

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