MARKET SNAPSHOT: U.S. Stock Futures Hold Steady As Investors Get Ready For Big Earnings Week

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07/17/2017 | 09:55 am


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.





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