MARKET SNAPSHOT: U.S. Stock Futures Hold Steady As Investors Get Ready For Big Earnings Week
17 July 2017 - 8:10PM
Dow Jones News
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
(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)
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)
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