NEW YORK (AP) — U.S. stock futures edged lower Monday ahead of a full week of corporate earnings reports.
IBM, Coca-Cola Co., Apple Inc. and General Electric Co. are among U.S. companies reporting third-quarter earnings results this week.
Twenty minutes before the opening bell, Dow Jones industrial average futures were down 42 points, or 0.4 percent, to 11,524. Standard and Poor’s 500 futures dipped 5, or 0.4 percent, to 1,214. Nasdaq 100 futures lost 177 or 0.3 percent, to 2,350. European shares were mixed.
Stock futures dipped from earlier highs after a spokesman for the German government said that a solution to the European debt crisis would not be reached at a meeting next week. Concerns that the Greek government will miss a payment on its bonds and cause deep losses for the region’s banks have been behind much of the stock market’s big swings lately.
Hopes that Europe will take additional steps to contain a potential banking crisis sent the stock market higher last week. The S&P 500 rose 6 percent, its best performance since July 2009.
In the U.S., investors will receive a report Monday from the Federal Reserve on production from factories, mines and utilities in September. Economists expect that industrial production rose slightly last month.
Wells Fargo & Co. fell 4 percent in premarket trading after its third-quarter revenue fell below Wall Street’s expectations. Citigroup Inc. rose 2.5 percent in premarket trading after the company’s earnings beat estimates.
Oil services company Halliburton Co. dipped 0.6 percent in premarket trading after missing Wall Street’s estimates.
International Business Machines Corp. will report its results after the bell.