Updated from 7:38 a.m. ET, Monday, July 24. 

Stock futures were slightly lower on Monday, July 24, as investors on Wall Street prepared for a busy week of corporate earnings and an announcement on monetary policy from the Federal Reserve. 

S&P 500 futures fell 0.11%, Dow Jones Industrial Average futures were down 0.1%, and Nasdaq futures fell 0.09%.

The Federal Reserve will convene this week with an announcement on monetary policy scheduled for Wednesday, July 26. Economists don't expect the central bank to make a change to interest rates, though investors will comb through the Fed statement to discern when the Fed could begin to unwind its balance sheet. Most Fed watchers anticipate that process to begin at the September meeting.

The earnings season speeds on at a relentless pace in the coming week with a large chunk of companies in the S&P 500 set to report on their recent three-month performances. Nearly one-fifth of S&P 500 companies have reported on the second quarter so far this reporting season. Of those, 74.2% have exceeded earnings estimates, while 72.7% have topped revenue forecasts, according to Thomson Reuters data.

Some of the most notable earnings in the coming week include Alphabet Inc. (GOOGL - Get Report) out on Monday afternoon; General Motors Co.  (GM - Get Report) , McDonald's Corp. (MCD - Get Report) and DuPont (DD - Get Report) on Tuesday, July 25; Boeing Co.  (BA - Get Report) , Facebook Inc. (FB - Get Report) , Ford Motor Co. (F - Get Report) and Whole Foods Market Inc.  (WFM) on Wednesday; and Amazon.com Inc. (AMZN - Get Report) , Twitter Inc. (TWTR - Get Report) , Starbucks Corp. (SBUX - Get Report) and Intel Corp. (INTC - Get Report) on Thursday, July 27.

Google, Facebook and Starbucks are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells GOOGL, FB or SBUX? Learn more now.

The International Monetary Fund lowered growth forecasts for the U.S. economy on Monday amid expectations of a pullback in government stimulus. The IMF said it expects the U.S. economy to grow at a 2.1% clip this year and next, down from its prediction of 2.3% and 2.5%, respectively, that it published three months ago in its regular World Economic Outlook report.

"While the markdown in the 2017 forecast reflects in part the weak growth outturn in the first quarter of the year, the major factor behind the growth revision, especially for 2018, is the assumption that fiscal policy will be less expansionary than previously assumed, given the uncertainty about the timing and nature of U.S. fiscal policy changes," the IMF said. "Market expectations of fiscal stimulus have also receded."

The growth forecast for the U.K. in 2017 also was revised lower on weaker-than-expected activity in the first quarter.

On the economic calendar on Monday, the flash composite PMI for July will be released 9:45 a.m. ET, while existing home sales for June are scheduled for 10 a.m.

Private-equity firm KKR & Co. (KKR - Get Report) agreed to acquire online health publisher WebMD Health Corp. (WBMD) in a deal valued at $2.8 billion. The purchase price was $66.50 a share in cash. WebMD shares closed Friday at $55.19 and was jumping nearly 20% in premarket trading on Monday to $66.

The deal came after WebMD ran a five-month auction and solicited bids from more than 100 companies and private-equity firms, the people told Reuters. WebMD's websites include WebMD.com, Medscape.com and MedicineNet.com.

Stanley Black & Decker Inc. (SWK - Get Report) edged higher on Monday after upwardly revising its full-year guidance. The power tools company anticipates fiscal 2017 adjusted profit between $7.18 and $7.38 a share, higher than its previous target of $7.08 to $7.28. The company also beat second-quarter earnings and sales estimates. Adjusted earnings of $2.01 a share came in 4 cents higher than expected, while revenue of $3.23 billion beat consensus of $3.18 billion. 

Hasbro Inc. (HAS - Get Report) declined 5% in premarket trading even after better-than-expected earnings. Adjusted second-quarter profit of 53 cents a share rose from 41 cents in the same quarter a year earlier. Analysts predicted earnings of 45 cents. Revenue of 972.5 million came in slightly weaker than analysts' target of $974.2 million. Sales in entertainment and licensing declined from a year earlier. 

Other earnings of note Monday morning include Cal-Maine Foods (CALM - Get Report)  and Arconic Inc. (ARNC - Get Report) . 

Arconic is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells ARNC? Learn more now.

BMO Capital lowered third-quarter revenue estimates and earnings for Apple Inc.  (AAPL - Get Report) on concerns that shipments of the upcoming premium iPhone Pro will be limited initially. Apple will likely release the premium iPhone "Pro" along with a standard "S" refresh in September, but production of the expected OLED display will delay shipments. BMO lowered its average selling price assumptions for the premium iPhone Pro to reflect its limited volume view.

Eat, Drink and Talk Money with Jim Cramer

Meet Jim Cramer at an exclusive reception at his Bar San Miguel in Brooklyn, N.Y., on Tuesday, July 25, from 6:30 p.m. To 9 p.m.

The evening will start with a screening of Jim's CNBC show Mad Money. Afterwards, Jim will join the party fresh off of the CNBC set to mingle, take photos and answer your investing questions.

Tickets include dinner, drinks and an autographed copy of Jim's book Get Rich Carefully.

Click here for more information or to buy tickets.

Where: Bar San Miguel, 307 Smith St., Brooklyn, N.Y.

When: Tuesday, July 25, 6:30 p.m. to 9 p.m.

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