Stocks: 5 things to know before the open

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There's a defiant mood in the markets Tuesday.

Investors are putting the Paris terror attacks behind them and are buying into stocks.

Across Europe, every major stock market index is rising, with some shooting up by nearly 2%. And U.S. stock futures are making a clear move higher.

Here are the five things you need to know before the opening bell rings in New York:

1. Euro slips: The European currency is in sell-off mode, falling against the U.S. dollar and every other major global currency.

The euro is now trading around $1.064, which is the lowest level it's seen since April.

Investors are ditching the euro as they expect the European Central Bank will take further action to support the eurozone economy.

Currency traders have been crowding into the U.S. dollar as they expect a rate hike will come in December.

Related: Fear & Greed Index

2. Stock market mover: Urban Outfitter (URBN) shares are plunging by more than 11% in extended trading after the retailer reported disappointing quarterly earnings.

And investors were clearly unimpressed after the clothing retailer said it was acquiring the Vetri Family restaurant chain, which includes a string of pizzerias.

"Spending on casual dining is expanding rapidly, and thus, we believe there is tremendous opportunity to expand the Pizzeria Vetri concept," said Urban Outfitters CEO Richard Hayne in a statement.

3. Retail earnings: Other retailers are reporting results ahead of the open, including Walmart (WMMVF), Home Depot (HD), Dick's Sporting Goods (DKS) and TJX (TJX), which is the company behind T.J. Maxx.

Investors have grown increasingly worried about an industry-wide slump in brick and mortar retail.

Heavyweights Macy's (M) and Sears (SHLD) have suffered, and smaller outfits like Abercrombie & Fitch (ANF), American Apparel and Aeropostale (ARO) are floundering as well.

Related: Black Friday could be Bleak Friday for retailers

4. Inflation data: The Bureau of Labor statistics will update its Consumer Price Index at 8:30 a.m. ET.

The index has shown that inflation continues to be dragged down by low energy prices.

In September, overall prices declined by 0.2%.

5. Monday market recap: People around the world were shaken by the deadly Paris terrorist attacks, but that wasn't enough to keep the stock markets down.

The Dow Jones industrial average gained 1.4% on Monday, while the S&P 500 rose 1.5% and the Nasdaq added 1.2%.

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