This is what you need to know before the bell:

1. European stocks were mixed in early trading Tuesday as regional corporate earnings continued to impress and investors attempted to shrugg-off a rapidly rising euro and higher global oil prices.

2. BP plc (BP)  shares traded at the highest level in more than a month Tuesday after the group posted second quarter earnings that were largely in-line with forecasts and maintained its dividend as the group swung into profit thanks to gradually rising global oil prices.

3. The dollar index, which measures the greenback's strength against a basket of six global currencies, traded at a 13-month low of 97.78 in Asia as investors trimmed bets on faster rate hikes from the U.S. Federal Reserve.

4. Apple, the iPhone maker, is expected by analysts to report fiscal third-quarter earnings of $1.57 a share, up about 5% from a year earlier, on sales of $44.9 billion.

5. U.S. stock futures were pointing to strong gains for Wall Street on Tuesday, Aug. 1, with the Dow Jones Industrial Average poised to set another record ahead of earnings from the likes of Apple Inc. (AAPL)  and Pfizer Inc. (PFE) .

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