US STOCKS-Futures point to flat open, but M&A supports

lunes 28 de julio de 2014 09:01 GYT
 

* Dollar Tree offers to buy Family Dollar for $9.2 bln

* June pending home sales on tap, seen rising 0.5 pct

* S&P 500 less than 1 percent from intraday record

* Futures up: Dow 1 pt, S&P 0.5 pt, Nasdaq 5.5 pts (Updates prices, adds Zillow acquisition)

By Ryan Vlastelica

NEW YORK, July 28 (Reuters) - U.S. stock index futures pointed to a flat open on Monday as investors looked ahead to the latest economic data and corporate earnings to give direction to a market near record levels.

* While merger and acquisition activity supported the market, there have been a number of high-profile earnings disappointments this quarter, including from Amazon.com and Caterpillar last week. The results pointed to weak conditions for market-moving bellwethers, even as more companies than usual have beaten analyst expectations for both earnings and revenue this quarter.

* The S&P 500 ended at a record Thursday but fell on Friday, pressured by Amazon's and Visa Inc's weak results. The benchmark index is less than 1 percent from an all-time intraday record, and on Friday, found support at its 14-day moving average, suggesting a recent positive trend in equities remains intact.

* Dollar Tree Inc offered to buy Family Dollar Stores Inc for about $9.2 billion, or $74.50 per share in cash and stock. Shares of Family Dollar jumped 22 percent to $74 in light premarket trading while Dollar Tree was up 3.7 percent to $56.24.   Continuación...