U.S. stock-index futures traded mixed on Tuesday, as investors' assessed quarterly earnings reports from Walmart (WMT; +3.5%) and Home Depot (HD; -1.4%), while awaiting the testimony from Fed Chair Powell and Treasury Secretary Mnuchin before the Senate Banking Committee on the government's response to the coronavirus (14:00 GMT).

Global Stocks:

(company / ticker / price / change ($/%) / volume)

Tesla (TSLA) target lowered to $1001 from $1020 at JMP Securities

Walt Disney (DIS) downgraded to Hold from Buy at Loop Capital

FXStreet notes that S&P 500 has gapped sharply higher for a close above the 61.8/% retracement of the Q1 collapse at 2934 and analysts at Credit Suisse look for a test of the pivotal resistance from the falling long-term 200-day average at 2998.

“Although volume was slightly lower than Friday’s high print it remains elevated and we look for the rally to extend.” 

“Resistance is seen at the beginning of the price gap from early March at 2986, then critically at the still falling 200-day average and Fibonacci projection resistance at 2994/98. If this strength from late March is still indeed a corrective move higher, then we would expect to see concerted signs of selling to show here.” 

“Support moves to 2941 initially, then 2934, with a break below 2914 needed to ease the immediate upside bias for a fall back to the lower end of yesterday’s price gap and 13-day average at 2883/65.”

Walmart (WMT) reported Q1 FY 2021 earnings of $1.18 per share (versus $1.13 per share in Q1 FY 2020), beating analysts' consensus estimate of $1.09 per share.

The company's quarterly revenues amounted to $134.662 bln (+9.5% y/y), beating analysts' consensus estimate of $130.912 bln.

Due to unprecedented variability in the macro-environment brought on by COVID-19, the company withdrew its financial guidance for FY 2021.

WMT rose to $132.95 (+4.14%) in pre-market trading.

Home Depot (HD) reported Q1 FY 2020 earnings of $2.08 per share (versus $2.27 per share in Q1 FY 2019), missing analysts' consensus estimate of $2.27 per share.

The company's quarterly revenues amounted to $28.260 bln (+7.1% y/y), beating analysts' consensus estimate of $27.591 bln.

As a result of the uncertainty related to the duration of COVID-19 and its impact on the broader economy, the company suspended its previously communicated FY 2020 guidance.

HD fell to $238.50 (-2.79%) in pre-market trading.

Baidu (BIDU) reported Q1 FY 2020 earnings of RMB8.84 per share (versus RMB0.41 per share in Q1 FY 2019), beating analysts' consensus estimate of RMB3.98 per share.

The company's quarterly revenues amounted to RMB22.545 bln (-6.9% y/y), beating analysts' consensus estimate of RMB21.937 bln.

The company also issued in-line guidance for Q2 FY 2020, projecting revenues of RMB25.00-27.30 bln versus analysts' consensus estimate of RMB 25.62 bln.

BIDU rose to $115.38 (+7.24%) in pre-market trading.