U.S. markets dip, Home Depot rises; global markets rally as China and Australia cut interest rates.

U.S. markets edged lower in premarket trading as the earnings season nears its end, with Home Depot rising over 2% after beating sales targets. Globally, markets rallied following China's interest rate cuts to combat economic slowdown due to trade tensions with the U.S. The Reserve Bank of Australia also lowered its benchmark interest rate for the second time this year.