* One-third of S&P 500 companies due to report this week
* McDonald's, Netflix and Halliburton earnings on tap
* Existing home sales data due at 10:00 a.m. (1400 GMT
* Futures up: Dow 16 pts, S&P 0.9 pt, Nasdaq 7.25 pts
NEW YORK, July 22 U.S. stock index futures were
slightly higher on Monday with corporate earnings season kicking
into full swing, but gains were likely to be capped as the S&P
500 hit yet another closing high on Friday.
* About a third of S&P 500 companies are due to report
earnings this week, including Dow components McDonald's Corp
on Monday. Netflix Inc and Halliburton Co
are also due to report earnings later in the day.
* The S&P 500 index on Friday edged up to end at a
second straight record high, while the Dow and Nasdaq stock
gauges fell as disappointing earnings results from Microsoft and
Google dragged on the market. Stronger-than-expected results
from General Electric Co and oilfield services company
Schlumberger NV helped the S&P 500 to offset the tech
losses and post a fourth week of gains.
* In economic news, the Federal Reserve Bank of Chicago's
national activity index for June is due at 8:30 a.m. ET (1230
GMT) and June existing home sales data is due at 10:00 a.m. ET.
For home sales, a Reuters survey of economists expect a reading
of an annualized 5.25 million units, compared to a prior reading
of 5.18 million.
* On Tuesday, Apple Inc earnings are likely to take
the spotlight, especially after Microsoft Corp shares
took a hit last week after reporting disappointing results.
* S&P 500 futures rose 0.9 point and were in line
with fair value, a formula that evaluates pricing by taking into
account interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures rose 16
points, and Nasdaq 100 futures added 7.25 points.
* In Europe, shares were broadly unchanged by midday trade
as mixed company earnings halted the index's march back towards
five-year highs. In the early stages of the European quarterly
earnings season, 51 percent of companies that have reported
results have either met or beaten expectations, although
year-on-year second-quarter growth has contracted by 4 percent,
according to Thomson Reuters Starmine data, reflecting a tough