July 20, 2017 / 11:26 AM / a year ago

US STOCKS-Futures flat as investors await earnings deluge

* Futures up: Dow 10 pts, S&P 0.75 pts, Nasdaq 2.5 pts

By Tanya Agrawal

July 20 (Reuters) - U.S. stock index futures were little changed on Thursday, a day after all three major indexes closed at record highs helped partly by technology stocks, while investors remained optimistic about earnings.

* The S&P 500 tech sector, which has been the best performing sector this year, broke its previous record closing high that had held since March 2000 in the midst of the dot-com and Y2K tech stocks bubble.

* Microsoft, which will report results after the market close, was up 0.6 percent in premarket trading. Other major tech names such as Alphabet, Facebook and Amazon are due to report results next week.

* Investors have been pouring money into the technology sector in their search for growth areas in an otherwise low-growth environment, looking for sectors that are not affected by any major policy gridlock.

* Quarterly earnings will continue to be the main focus with analysts estimating an 8.7 percent rise in second-quarter earnings and a 4.6 percent increase in revenue for the S&P 500 companies from a year earlier, according to Thomson Reuters I/B/E/S.

* Visa, eBay, Capital One Financial are due to report results after the closing bell.

* The U.S. Labor Department is likely to show that initial claims for state unemployment benefits have dropped to 245,000 for the week ended July 15 after rising to 247,000 the week before. The data is expected at 8:30 a.m. ET (1230 GMT).

* The market will also be keeping an eye on the outcome of a European Central Bank meeting for hints on ECB plans to wind down its 60 billion-euro-a-month stimulus program.

* Qualcomm fell 2.1 percent after the chipmaker’s forecast missed estimates.

* American Express fell 1.7 percent after the card company’s profit declined 33 percent in the second quarter.

* Property and casualty insurer Travelers was down 1.2 percent after reporting a drop in quarterly profit.

* T-Mobile was up 2.9 percent after the wireless carrier’s quarterly results topped analysts’ estimates.

Futures snapshot at 7:07 a.m. ET:

* Dow e-minis were up 10 points, or 0.05 percent, with 11,468 contracts changing hands.

* S&P 500 e-minis were up 0.75 points, or 0.03 percent, with 86,171 contracts traded.

* Nasdaq 100 e-minis were up 2.5 points, or 0.04 percent, on volume of 12,062 contracts. (Reporting by Tanya Agrawal; Editing by Arun Koyyur)

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