"People who think we are over the worst of it aren't being cautious enough," Felix Riley from Choiceodds told CNBC Tuesday, adding that a recession is imminent.

Corporate bonds have become more attractive for companies trying to raise capital. Tom Ricketts, CEO of Incapital, says investors are following the trend.

The Nikkei 225 closed 1.5% higher Tuesday as investors sought out shares with good results. Nozomu Kitadai from The Nikkei has the details.

"Near-term, you are going to look at a market that will trade sideways. A lot of issues are yet to be answered in terms of how deep of a slowdown are we going to see, how big of an impact these commodity prices are going to have on the economy," Owen Fitzpatrick from Deutsche Bank Private Wealth Management said.

US retail heavyweight Wal-Mart reports earnings Tuesday. John Haynes from Rensburg Sheppards told CNBC he expects relative strength from the company as he discusses the US retail sector.

In the past decade, more Asian markets are making an effort to raise corporate governance standards to cement investors' confidence. Marcello Bianchi, chair of OECD Steering Group, discusses his recent survey's findings.

UK inflation came in sharply higher than expected in April, curbing hopes of the Bank of England cutting rates at its next meeting. Daniel Hofmann from Zurich Financial Services analyzes the data.

China's earthquake on Monday caused a lot of uncertainty regarding the economic impact. Malcolm Wood from Morgan Stanley considers the effects of the quake. He and Michael Fraikin from Invesco Asset Management discuss global strategy.

"There's no real reason why the futures are pointing to a positive start to trading," Angus Campbell from Capital Spreads told CNBC when previewing the Monday's US trading day.

The CNBC programming schedule for Memorial Day, Monday, May 26th can be found with in this post.