At 7:20 a.m. futures are slightly down. Investors will spend the week going through second quarter corporate reports from 157 companies. As we know the trend so far has been very positive.
The drama for the week will be the push and pull between these very positive earnings versus continuing indicators that show a weak recovery. At the very minimum and for obvious reasons, many would like to see the markets at least maintain their present level through the summer and hang on till the fourth quarter beginning October 1st. Traditionally the fourth quarter is a period of market gains.
CNN: Stocks set for weak open
...157 companies are on tap to post their results this week.
A report on new home sales will be released at 10 a.m. ET.
The dollar was up against the euro, but down versus the British pound and the Japanese yen.
U.S. light crude oil for September delivery fell 46 cents to $78.52 a barrel.
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