MARKET SNAPSHOT: U.S. Stock Futures Hold Steady As Investors Get Ready For Big Earnings Week
By Barbara Kollmeyer, MarketWatch
BlackRock, Netflix earnings ahead for Monday
U.S. stocks were set to hang around record highs on Monday, with futures treading water as investors readied for a busy week of earnings and report on manufacturing.
Dow Jones Industrial Average futures were roughly unchanged at 21,595, while S&P 500 futures inched down by 0.60 point to 2,455.50. Nasdaq-100 futures rose 1.25 points to 5,844.50.
On Friday , U.S. stocks scored fresh records, with the Dow closing up 0.4%, while the S&P gained 0.5% and nabbed its first record close since June 19. The Nasdaq Composite Index closed just shy of a record, as it rose 0.6% gain.
Whether stocks can extend further into record territory hinges partly on how a big week of earnings pans out. Some 68 S&P 500 companies will report this week, according to FactSet. Those include Bank of America Corp.(>> Bank of America) , Goldman Sachs Group Inc.(>> Goldman Sachs Group) , Microsoft Corp.(>> Microsoft Corporation) and General Electric Co.(>> General Electric Company) .
On the data front on Monday, the New York Federal Reserve's Empire State Manufacturing Survey for July will be released at 8:30 a.m. Eastern Time.
Stocks to watch: Investment manager BlackRock Inc.(>> BlackRock) is slated to report ahead of the open, with streaming giant Netflix Inc.(>> Netflix) due after the close. Read a Netflix preview here .
Shares in Procter & Gamble Co.(>> Procter & Gamble Company) could be in focus after The Wall Street Journal reported that shareholder Nelson Peltz and his Trian Fund Management LP could be ready to fight for a seat on P&G's board. That would make P&G the biggest company to ever face a proxy battle.
Other markets: In China, the Shanghai Composite Index closed down 1.4% , but off earlier lows as data showed expansion in the world's second-biggest economy beat forecasts with 6.9% second-quarter growth . Helping to spark the selling, Chinese officials at a financial conference hinted at tighter controls on the economy.
Opinion:China is playing a weak hand with the U.S .
European stocks traded mixed, with the FTSE 100 index gaining, but Germany's DAX 30 falling.
Oil prices , the dollar and gold futures were all slightly higher.