Here are 10 things you should know for Tuesday, July 15:
1. -- U.S. stock futures were mixed Tuesday ahead of earnings reports from bank and technology companies and Federal Reserve Chair Janet Yellen's semiannual testimony to Congress.
European stocks slid on Tuesday following disappointing news on investor sentiment in Germany.
Asian shares finished the session higher.
2. -- The economic calendar in the U.S. on Tuesday includes retail sales for June at 8:30 a.m. EDT, the Empire State Manufacturing Index for July at 8:30 a.m., export and import prices for June at 8:30 a.m., and business inventories for May at 10 a.m.
3. -- U.S. stocks on Monday finished with healthy gains Monday and the Dow Jones Industrial Average closed well above the psychological threshold of 17,000.
The Dow hit an intraday record high of 17,088.43 before settling 0.66% higher at 17,056. The S&P 500 climbed 0.48% to 1,977.1, while the Nasdaq gained 0.56% to 4,440.42.
4. -- Microsoft (MSFT) is planning its biggest round of job cuts in five years, as the software maker looks to slim down and integrate Nokia's (NOK) handset unit, people with knowledge of the company's plans told Bloomberg.
The job cuts -- which may be unveiled as soon as this week -- will probably be in areas such as Nokia and divisions of Microsoft that overlap with that business, as well as marketing and engineering, the people told Bloomberg.
The restructuring may end up being the biggest in Microsoft history, topping the 5,800 jobs cut in 2009, two of the people said. Some details are still being worked out, two of the people told Bloomberg.