By Victor Reklaitis, MarketWatch
Energy giants slated to release quarterly results
U.S. stocks on Friday eyed gains for the past week and month, as
stock futures pointed to a roughly flat open, though analysts
warned about the potential for end-of-the-month choppiness as
investors revamp their holdings.
Earnings from energy giants Exxon Mobil and Chevron could
provide a spark, and investors also await fresh readings on
consumer sentiment and Chicago-area business conditions.
S&P 500 futures were last down 0.70 point, or less than
0.1%, to 2,103, while those for the Dow Jones Industrial Average
dipped 9 points to 17,677. Nasdaq 100 futures edged lower by 1
point, or less than 0.1%, to 4,594.25.
The benchmark S&P 500 is on track for a weekly advance of
1.4% and a July rise of 2.2% as of Thursday's close. The Dow is on
pace for weekly and monthly gains of 1% and 0.7%, respectively,
while the Nasdaq is up 0.8% for the week and 2.9% for July.
On Thursday, the U.S. stock market finished about flat
(http://www.marketwatch.com/story/us-stock-futures-dip-into-the-red-ahead-of-gdp-report-2015-07-30)after
erasing early losses.
What strategists are saying: "Today, traders need to be
cautious; as we approach the end of the month the markets may
experience notable volatility due to month end flows," said Nour
Al-Hammoury, chief market strategist at ADS Securities, in an note
Friday.
Other markets: Chinese stocks closed lower and notched their
biggest monthly drop in nearly six years
(http://www.marketwatch.com/story/china-shares-headed-for-worst-month-in-over-two-years-2015-07-31),
while European equities were poised for weekly and monthly gains
(http://www.marketwatch.com/story/european-stocks-nudge-higher-ahead-of-inflation-data-2015-07-31).
Oil prices fell on Friday, with the commodity set to post its
worst monthly showing of the year
(http://www.marketwatch.com/story/crude-poised-for-worst-monthly-performance-of-2015-2015-07-31)
so far. Gold futures were also lower, while the dollar
(http://www.marketwatch.com/story/dollar-dips-versus-yen-euro-ahead-of-us-data-2015-07-31)
was little changed and set for a rise for the week and month.
Economic reports: Investors are waiting for a reading on July
business conditions in the Chicago area that's due at 9:45 a.m.
Eastern, as well as a figure for consumer sentiment that's expected
at 10 a.m.
The employment-cost index for the second quarter is due at 8:30
a.m.
Check out:
Movers & Shakers: Before the open, Exxon Mobil Corp. (XOM)
is projected to report second-quarter earnings of $1.11 a share,
according to a FactSet survey of analysts.
Also ahead of the bell, Chevron Corp. (CVX) is forecast to post
second-quarter earnings of $1.15 a share, and Royal Caribbean
Cruises Ltd. (RCL) is likely to post second-quarter earnings of 73
cents a share.
Read more in the Movers & Shakers column
(http://www.marketwatch.com/story/exxon-mobil-chevron-royal-caribbean-earnings-in-focus-2015-07-30)
Subscribe to WSJ: http://online.wsj.com?mod=djnwires