US STOCKS-Futures flat ahead of Citi, Wells Fargo results

viernes 15 de julio de 2016 07:32 GYT

* Futures: Dow up 2 pts, S&P down 0.25 pts, Nasdaq flat

By Yashaswini Swamynathan

July 15 (Reuters) - U.S. stock index futures were flat on Friday, a day after the S&P 500 hit another record and ahead of earnings reports from a slate of U.S. banks, including Citigroup and Wells Fargo.

* It remains to be seen if Citi and Wells Fargo are able to live up to expectations set by JPMorgan's strong numbers on Thursday.

* JPMorgan's results sparked a rally in financial stocks that powered the S&P to its fourth intraday high in a row and the Dow to its third.

* Shares of Citi and Wells Fargo, which are scheduled to report at 8:00 a.m. ET (1200 GMT), were down 0.3 and 1.2 percent, respectively, in light premarket trading.

* A host of strong economic data, easing political tension and accommodative monetary policy across the globe have helped the markets grind higher in the recent days.

* The three major Wall Street indexes are on track to mark their third straight week of gains. U.S. corporate reports will determine if the rally can be sustained, especially given the high valuations.

* While earnings of S&P 500 companies overall are expected to have fallen 5 percent in the second quarter, growth is expected throughout the remainder of the year.   Continuación...