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5 Things You Must Know Before the Market Opens Tuesday

1. -- U.S. stock futures traded flat to lower on Tuesday, July 11, as Wall Street traded cautiously ahead of testimony later in the week from Federal Reserve Chair Janet Yellen, earnings from big U.S. banks, and economic data on U.S. inflation and retail sales.

European stock traded mixed on Tuesday while Asian shares finished mostly higher.

The economic calendar in the U.S. on Tuesday includes the Job Openings and Labor Turnover Survey for May at 10 a.m. ET, and Wholesale Trade for May at 10 a.m.

Federal Reserve Gov. Lael Brainard will be the keynote speaker at the Conference on Normalizing Central Banks' Balance Sheets in New York at 12:30 p.m., while Minneapolis Fed President Neel Kashkari will be speaking at a moderated Q&A at the Minnesota Women's Economic Roundtable event in Minneapolis at 1:20 p.m.

2. -- Donald Trump nominated former Treasury official Randal Quarles as Federal Reserve Board vice chair of supervision, in charge of regulating big banks.

Quarles will have a voice in the Federal Open Market Committee's decisions on interest rates. The position also gives him a key role in the Trump administration's efforts to loosen the banking regulations imposed by the Dodd-Frank legislation that Congress passed in 2010.

U.S. banking giants such as Citigroup Inc. ( C) , Bank of America Corp. ( BAC) and Wells Fargo &...