Higher open likely for the U.S markets Tuesday after the main index Dow Jones looked up in the morning.

Dow Jones futures pointed to a higher open after some major U.S. companies reported strong quarterly results. That gave Dow a 30-point gain for Tuesday’s open. At the same time, S&P 500 and Nasdaq 100 futures are hinting a flat open.

Coca-Cola and United Technologies reported better-than-expected quarterly earnings and their shares zoomed.

Market participants are focusing on the stream of earnings reports. At the data front, there will be a Philadelphia Fed non-manufacturing survey and FHFA Housing Price Index for February to watch out.

Among the corporate results, Lockheed Martin, Verizon, Texas Instruments, eBay and Stryker will report the latest quarterly results.

Oil jumps as Iran waiver ends

Oil prices hit the roof on Tuesday and zoomed to the highest since November after the U.S announced the end of waivers on oil imports from sanctions-hit Iran and asked importers to stop buying from Tehran or face sanctions.

Benchmark Brent crude futures zoomed to $74.67 per barrel at 0855 GMT, up 0.85 percent. The U.S. West Texas Intermediate was strongest at $66.14 per barrel, up 0.9 percent from their previous settlement.

The United States on Monday urged buyers of Iranian oil to stop purchases by May 1, ending the six months grace period to eight buyers, mostly from Asia.

Asian markets mixed, Europe low

Shares in Asia showed mixed trends on Tuesday. Japan’s Nikkei 225 closed 0.19 percent higher and the Topix index jumped 0.27 percent.

South Korea’s Kospi added 0.17 percent. But mainland Chinese shares showed declines, with the Shanghai composite slipping 0.51 percent and the Shenzhen component falling about 0.97 percent.

Shares on the mainland fell mainly on reports that Beijing could refocus on structural reforms instead of stimulus after better-than-expected economic growth showed up in the first quarter.

Hong Kong’s Hang Seng index plunged 0.2 percent in the final hour of trading on Tuesday while Australia’s ASX 200 gained 0.95 percent during the day.

Europe’s equity markets traded lower on Tuesday morning. Investors were influenced by an array of geopolitical issues and trends in the earnings season.

GettyImages-Stock market Ap 23
Traders work after the opening bell at the New York Stock Exchange (NYSE) on April 18, 2019, in New York City. JOHANNES EISELE/AFP/Getty Images

The pan-European Stoxx 600 tumbled 0.3 percent in mid-morning deals with most sectors in the red.

Gold down

Gold prices slipped on Tuesday after strong equities provided a back up for investors.

Spot gold fell 0.1 percent to $1,273.18 per ounce as of 0750 GMT. The U.S. gold futures lost 0.2 percent to hit $1,275 an ounce.

“Gold is currently trying to find a short-term bottom around $1,274-1,275 an ounce level, especially as equity markets continue to rally,” noted Margaret Yang, an analyst with Singapore’s CMC Markets.