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Jul 16, 2018

Stocks set for flat open as earnings season kicks into high gear I CNBC Premarket

cnbc.com

Stocks set for flat open as earnings season kicks into high gear

Alexandra Gibbs, Fred Imbert


U.S. stock index futures were little changed on Monday as the corporate earnings season was in full swing.
Dow Jones Industrial Average futures rose just 13 points, indicating a gain of 15.59 points at the open. S&P 500 and Nasdaq 100 futures also hovered around the flatline.
BlackRock reported second-quarter earnings and revenue before the bell, along with Bank of America and J.B. Hunt. BlackRock's earnings were driven in part by a lower corporate tax rate, while Bank of America got a boost from cost cuts and lower taxes. J.B. Hunt's results were helped by higher rates and increased volume.
Streaming giant Netflix is set to report Monday after the close.
Wall Street has high hopes for this earnings season, with analysts expecting second-quarter profits to have grown by 20 percent from last year, according to FactSet.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, April 23, 2018. Michael Nagle | Bloomberg | Getty Images
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, April 23, 2018.
Investors also looked to Helsinki as President Donald Trump and Russia's Vladimir Putin had their first official dialogue. The meeting comes just days after the U.S. Justice Department announced that special counsel Robert Mueller had acquired an indictment, that charges a dozen Russian intelligence officers with hacking Democrats to interfere in the U.S. election in 2016, and with stealing information of around half a million U.S. voters.
On the economic front, retail sales are due out at 8:30 a.m. ET, along with the Empire State Manufacturing survey. Business inventories will then be released at 10 a.m. ET.
—CNBC's Dan Mangan contributed to this report