NEW YORK (TheStreet) -- Stock futures were little changed Monday awaiting this week's Federal Reserve policy announcement on Wednesday, July government jobs report on Friday and second-quarter GDP figures on Wednesday.
Dow Jones Industrial Average (DIA) futures were down 3 points, or 4.57 points below fair value, to 16,888. Futures for the S&P 500
While the S&P 500 is still higher by 7% in 2014 and less than 1% off its latest all-time high achievement last week with the help of generally solid earnings reports, the Russell 2000 (IWM) and the Dow Jones Industrial Average did not join the S&P 500 at new records.
"This coming week should provide another major test for markets, as we prepare for another big week of earnings reports, the FOMC statement and a barrage of economic news," noted Gina Martin Adams, senior analyst at Wells Fargo Securities Equity Strategy.
A whopping 152 S&P 500 companies are expected to report this week, including 29 financial companies, 22 energy companies and 21 industrials companies. Currently, the consensus expects 6.7% year-over-year S&P 500 earnings-per-share growth for the second quarter, up from forecasts of 6.3%, according to Wells Fargo Securities Equity Strategy.