Stock Futures Edge Lower Ahead of Earnings Season
NEW YORK (TheStreet) -- U.S. stock futures were dipping Monday following the long July 4 weekend and a record performance that saw the Dow Jones Industrial Average close well over the 17,000 threshold.
Dow futures were down 25 points, or 35.26 points below fair value, to 16,951. S&P 500 futures were falling 3.5 points, or 4.04 points below fair value, to 1,974. Nasdaq futures were slipping 7 points, or 6.26 points below fair value, to 3,908.8. On Thursday, stronger-than-expected jobs data and a falling unemployment rate was enough impetus to drive the Dow to exceed the psychologically important 17,000 milestone.
The next set of catalysts for stocks will be second-quarter earnings season, beginning on Tuesday with Alcoa's
(AA) results after the bell and earnings reports from Family Dollar Stores
(FDO) on Thursday and dominant U.S. mortgage lender Wells Fargo
(WFC) on Friday.
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