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)

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