US Stock Futures Flat Ahead Of Earnings, Economic Data

US stock futures are flat this morning, as investors are awaiting earnings reports and economic data. Futures for the Dow Jones Industrial Average gained 1 point to 12,551.00 and S&P 500 index futures fell 0.50 points to 1,333.00. Nasdaq 100 futures dropped 0.25 points to 2,423.25. US stocks closed lower on Monday, with the Dow Jones Industrial Average dropping 0.70% to 12,592.80, the S&P 500 index declining 0.56% to 1,337.43 and the Nasdaq 100 index dipping 0.56% to 2,842.80. US wasted another day in failed attempts to resolve its debt crisis. Data on Case-Shiller home prices for May will be released at 9 a.m. ET. Data on new home sales for June and the Conference Board's Consumer Confidence survey for July will be released at 10 a.m. ET. Lockheed Martin Corporation LMT is projected to report its Q2 EPS at $1.93 on revenue of $11.42 billion. Ford Motor Company F is estimated to report its Q2 earnings at $0.60 per share on revenue of $31.59 billion. Eastman Kodak Company EK is expected to report a Q2 loss at $0.61 per share on revenue of $1.54 billion. 3M Company MMM is estimated to report its Q2 EPS at $1.60 on revenue of $7.60 billion. Amazon.com Inc AMZN is projected to report its Q2 EPS at $0.35 on revenue of $9.37 billion. United Parcel Service Inc UPS is expected to report its Q2 EPS at $1.04 on revenue of $13.14 billion. Las Vegas Sands Corp LVS is projected to report its Q2 EPS at $0.44 on revenue of $2.21 billion. Electronic Arts Inc ERTS is expected to report a Q1 loss at $0.40 per share on revenue of $508.65 million. CH Robinson Worldwide Inc CHRW is projected to report its Q2 EPS at $0.69 on revenue of $2.72 billion. Shares of Netflix Inc NFLX dropped about 9.8% in pre-market trading after the company reported downbeat Q2 revenue and issued weak projections. Netflix reported its quarterly earnings at $68 million, or $1.26 per share, up from $44 million, or $0.80 per share, in the year-earlier period. Its revenue increased to $789 million from $520 million. Analysts were expecting a profit of $1.21 per share on revenue of $791.5 million. Texas Instruments Inc TXN reported a decline in its second-quarter profit. TI reported its quarterly profit at $672 million, or $0.56 per share, down from $769 million, or $0.62 per share, in the year-ago period. Its revenue came in at $3.46 billion. Analysts were expecting earnings of $0.54 per share on revenue of $3.44 billion. European markets were lower today. The STOXX Europe 600 Index dropped 0.80%, London's FTSE 100 Index moved down 0.37%, French CAC 40 index fell 0.98% and German DAX 30 index dropped 0.49%. Most Asian markets ended higher, with Japan's Nikkei Stock Average gaining 0.4747%, Australia's S&P/ASX 200 moving up 0.92% and China's Shanghai Composite rising 0.53%. Hong Kong's Hang Seng Index rose 1.2506% and India's Sensex dipped 1.87%. The dollar dropped versus most major rivals. The dollar index (DXY) dropped 0.6% to 73.693. Gold futures for August delivery declined $2 to $1,610.20 an ounce. However, crude oil for September delivery gained $0.18 to $99.38 a barrel.