Economic calendar: US hard data and earnings

• US-China stand-off continues

• US factory orders seen higher in June

• Walt Disney, Blizzard and Nikola among today's earnings reporters

European futures are trading above yesterday's cash close but the scale of advance is minor. US House Speaker Pelosi said that she does not expect a US stimulus deal to be reached this week but markets have so far played down those comments. China threatened to retaliate in case the United States stick to their plan of "smashing and grabbing" TikTok so geopolitics are one of the things to watch in today's newsflow

10:00 am BST - Euro area, PPI inflation for June. Expected: +0.5% MoM. Previous: -0.6% MoM

3:00 pm BST - US, factory orders for June. Expected: +5% MoM. Previous: +8% MoM

9:40 am BST - API report on oil inventories. Expected: -3.3 mb

Noteworthy US earnings reports

• Activision Blizzard (ATVI.US) - after market close

• Beyond Meat (BYND.US) - after market close

• Fox Corporation (FOXA.US) - after market close

• Monster Beverage (MNST.US) - after market close

• Nikola Corporation (NKLA.US) - after market close

• Walt Disney (DIS.US) - after market close