Joe Biden will travel to Israel tomorrow, before heading to Jordan, where he will meet the King, the Egyptian President and the head of the Palestinian Authority. It is rumored that the White House wants both to assure the Jewish state of its support and to encourage humanitarian aid for the displaced population of Gaza.

Investors are trading cautiously on Tuesday ahead of the release of U.S. retail sales and industrial production data, due later today. They’re also awaiting a speech from Fed Chair Jerome Powell's due tomorrow to get more clues about the direction of monetary policy.

Among stocks, homebuilder Bellway fell 1.2% after posted disappointing results, while Rolls-Royce climbed 1.9% after it said it would slash 2,000-2,500 jobs as part of cost cutting measures.

In other news, British average earnings, excluding bonuses, grew 7.8% in the second quarter year-on-year, the Office for National Statistics said.

Things to read today:

China’s economy: five things to look for in the latest growth figures (Financial Times)

Blinken’s Whirlwind Israel Diplomacy Hits Hard Mideast Realities (Bloomberg)