* Netflix, Texas Instruments to post earnings after the
* September home resales data expected at 1400 GMT
* Futures: Dow up 2 pts, S&P up 2 pts, Nasdaq up 9 pts
By Rodrigo Campos
NEW YORK, Oct 21 U.S. stocks were set to open
little changed on Monday following a record closing high by the
S&P 500 on Friday, as a week filled with economic data and key
corporate earnings gets under way.
The S&P 500 capped Friday its biggest weekly gain in three
months on stronger-than-expected earnings from companies
including Google and Morgan Stanley and as a deal in Washington
helped avert a possible government default and reopened the
federal government after a 16-day shutdown.
Shares of Dow component McDonald's fell 1.7 percent
in premarket trading after earnings. Other companies expected to
report results on Monday include Netflix and Texas
Instruments and more than 25 percent of the S&P 500
components report this week.
"With no fresh themes emerging this morning, market
participants will continue to look towards earnings for
direction - and earnings have delivered," said Andre Bakhos,
managing director at Janlyn Capital LLC in Bernardsville, New
"It will primarily be an earnings and economic data driven
market," he said.
The National Association of Realtors releases existing-home
sales for September at 10 a.m. (1400 GMT). Economists in a
Reuters survey forecast a 5.30 million unit annual rate versus
5.48 million in August.
S&P 500 futures rose 2 points and dipped slightly in
terms of 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 2
points and Nasdaq 100 futures added 9 points.
Financial stocks could be in focus after JPMorgan Chase & Co
reached a tentative $13 billion deal with the U.S.
government to settle investigations into bad mortgage loans sold
to investors by JPMorgan and the banks it bought during the
financial crisis. JPMorgan shares fell 0.4 percent
"A settlement of this size brings closure for many and it
allows them to put the episode behind," Bakhos said.
Shares of Tellabs Inc rose 5.5 percent in premarket
trading after the network services provider agreed to be bought
by Marlin Equity Partners for $891 million.
Japan's exports rose but were well short of expectations in
September, a sign that slowing demand in Asia is taking the
shine off Prime Minister Shinzo Abe's stimulus policies and
clouding the outlook for a budding economic recovery.