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It's Apple versus China, Europe for market focus

Good news from Apple should be a positive for stocks Tuesday, as five Dow stocks and dozens of other major companies report earnings ahead of the opening bell.

Apple stock rose to more than $101 per share Monday afternoon, after the company reported better-than-expected earnings and a 12 percent increase in revenue, on the back of its latest iPhone launch.

So far, with a few high-profile exceptions, earnings are coming in better-than-expected with 63 percent beating per share estimates and profit growth expected to be 6.7 percent, according to Thomson Reuters.