GM drives into earnings season; BP shares drop; Stocks steady

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1. GM drives into earnings season: General Motors' (GM) quarterly earnings report will put the automaker front and center on Tuesday morning.

The U.S. company has been under scrutiny recently after President Trump criticized its investment in Mexican plants.

Michael Kors (KORS) and New York Stock Exchange owner Intercontinental Exchange (ICE) are also on the morning results docket.

After the closing bell, investors will hear from Walt Disney (DIS) and a range of companies operating in the food industry: Mondelez International (MDLZ), Panera Bread (PNRA) and Yum China (YUMC).

2. Market movers -- BP, Gap: Shares in oil giant BP (BP) dropped 2% in London after its earnings disappointed.

Shares in Gap (GPS) are rising in extended trading after the firm reported better-than-expected holiday sales.

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3. Global market overview: Investors seem content to sit back and relax as they wait for more earnings data.

Stock markets around the world are holding steady. Government bond yields across the U.S. and most of Europe are declining a bit.

U.S. stock futures are not making any big moves.

European markets are mostly rising in early trading, but the gains are very small.

Most Asian markets ended without any big moves. In China, the government reported that its foreign exchange reserves fell below $3 trillion in January. The monthly decline of $12 billion was relatively small, however.

On Monday, the Dow Jones industrial average, S&P 500 and Nasdaq all posted minor declines.

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4. Coming this week:

Tuesday - Disney (DIS) earnings
Wednesday - Whole Foods (WFM), Time Warner (TWX), GlaxoSmithKline (GLAXF) earnings
Thursday - Twitter (TWTR), Coca-Cola (KO), Expedia (EXPE), Yum! Brands (YUM), Dunkin' Donuts (DNKN) earnings
Friday - Renault (RNSDF) earnings