NEW YORK (TheStreet) -- Stock futures were dipping Monday but the S&P 500 was still sitting near all-time highs as geopolitical tensions spiked but earnings growth outlook remained promising.
Dow Jones Industrial Average futures were falling 44 points, or 44.18 points below fair value, to 16,988. S&P 500 futures were behind by 4.75 points, or 5.22 points below fair value, to 1,966.75. Nasdaq futures were slipping 4.5 points, or 6.34 points below fair value, to 3,925.8.
The U.S. market calendar was devoid of major economic data Monday, with earnings sitting front and center. Wall Street expects second-quarter earnings at online streaming company Netflix (NFLX) to have more than doubled to $1.16 a share from 49 cents a year earlier, even as the company invests more in production and international expansion. Chipmaker Texas Instruments (TXN) is expected to post earnings of 59 cents a share in the second quarter on revenue of $3.27 billion. Chipotle Mexican Grill (CMG) is forecast to report second-quarter earnings of $3.08 a share on revenue of $989.6 million. Apple (AAPL) will be disclosing its latest financial statement on Tuesday, with Boeing (BA) and Facebook (FB) on Wednesday.
An S&P Capital IQ report said that analysts are currently expecting earnings growth for calendar 2014 to come in at 9.6% on top of the -2.1% result from 2013. All 10 sectors, with the exception of utilities and telecom, are expecting earnings growth in 2014, with IT leading the growth.