BlackRock, Netflix earnings ahead for Monday
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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 (http://www.marketwatch.com/story/dow-industrials-set-to-hover-at-record-as-jp-morgan-citi-set-to-report-2017-07-14), 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.(BAC) , Goldman Sachs Group Inc.(GS) , Microsoft Corp.(MSFT) and General Electric Co.(GE) .
Read:Stock market poised to ride stellar earnings to new heights (http://www.marketwatch.com/story/stock-market-poised-to-ride-stellar-earnings-to-new-heights-2017-07-15)
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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.(BLK) is slated to report ahead of the open, with streaming giant Netflix Inc.(NFLX) due after the close. Read a Netflix preview here (http://www.marketwatch.com/story/netflix-earnings-subscriber-additions-is-key-along-with-content-spend-2017-07-12).
Shares in Procter & Gamble Co.(PG) could be in focus after The Wall Street Journal reported (http://www.marketwatch.com/story/proctor-gamble-faces-biggest-ever-proxy-fight-2017-07-17) 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.
Read:Four key sectors to watch closely this earnings season (http://www.marketwatch.com/story/four-key-sectors-to-watch-closely-this-earnings-season-2017-07-13)
Other markets: In China, the Shanghai Composite Index closed down 1.4% (http://www.marketwatch.com/story/china-stocks-sink-after-central-banks-liquidity-injection-2017-07-16), but off earlier lows as data showed expansion in the world's second-biggest economy beat forecasts with 6.9% second-quarter growth (http://www.marketwatch.com/story/chinas-economy-beats-outlook-grows-69-in-q2-2017-07-16). 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 (http://www.marketwatch.com/story/china-is-playing-a-weak-hand-with-the-us-2017-07-17).
European stocks traded mixed, with the FTSE 100 index gaining, but Germany's DAX 30 falling.
Oil prices (http://www.marketwatch.com/story/crude-prices-start-the-week-on-an-upbeat-note-2017-07-17) , the dollar and gold futures were all slightly higher.
(END) Dow Jones Newswires
July 17, 2017 05:55 ET (09:55 GMT)