Multidirectional exchange trading on the first day of August

After a fifth straight month of gains in July (.SPX), Wall Street stock appeared to pull back on Tuesday as corporate earnings plummeted this week and poor manufacturing data from around the world created a sharper backdrop.

The low productivity of factories in China has again become apparent and highlighted the difficulties in recovery, which may be the main reason for the slowdown in industrial activity worldwide.

With markets growing impatient with the disappointing economic stimulus plans seen in Beijing so far, Chinese equities fell (.CSI300), counteracting a broader rally in Asian equities on Tuesday.

A Federal Reserve poll late Monday showed how more than a year of steep interest rate hikes weighed on lending to the broader economy in the second quarter, but hopes for "peak rates" around the world were buoyed when Australia's central bank unexpectedly paused policy tightening .

Fueled by a pullback in the Aussie, the US dollar (.DXY) surged to its best level in three weeks as a relatively upbeat US economic constellation contrasted with tighter conditions overseas.

Chicago Fed chief Austen Goolsby said on Monday the Fed was on the "golden path" to lower inflation without causing a recession, but added that no final decision had been made at the September policy meeting.

Real estate lending is a particular concern in Fed lending reviews, real estate remains a concern for many investors around the world.

The Bank of England is set to raise interest rates in the UK again later this week, with the latest data showing British house prices fell 3.8% year-to-date through July, the fastest fall since the 2009 banking crash.

Large pharmaceuticals are also gaining momentum thanks to updates from Pfizer and Merck. Shares of taxi giant Uber rose more than 2% ahead of the bell and ahead of the earnings report.

In the UK, HSBC (HSBA.L) shares rose 2.1% after the lender raised a key performance indicator, while BP (BP.L) gained 2.2% after the energy giant increased its dividend by 10%.