Stock Markets Edge Lower Ahead Of Key Earnings.

Investor caution ahead of the start of the big tech earnings season on Wall Street is predicted to cause European stock markets to open with minor losses on Tuesday.

Prior to results from Facebook-owner Meta Platforms and Amazon later this week, Tuesday's earnings from Microsoft and Google parent Alphabet are the most awaited.

Just five tech firms have contributed to two-thirds of the S&P 500's gains this year, so their quarterly earnings results may likely determine how the market performs.

The banking industry is in the spotlight in Europe.

UBS announced a 52% decline in first-quarter earnings earlier on Tuesday as a result of a surge in legal provisions for US residential mortgage-backed securities of $665 million.

The Swiss bank is also attempting to absorb Credit Suisse after being compelled to acquire it earlier this month due to its former rival's first-quarter asset outflows of more than $68 billion.

With traders considering the prospect of further interest rate hikes in the West, which would have a negative impact on economic development, and a potential revival in Chinese demand as the second-largest economy approaches a critical holiday season, oil prices stabilised on Tuesday.

Bookings made in China for international vacations for the approaching May Day holiday indicate that the economy is still recovering, which is boosting gasoline consumption in the world's top oil importer.

(investing.com, reuters.com)