Futures narrowly mixed after Dow, S&P log 3-week win streak
U.S. stock index futures were narrowly mixed Monday, after the Dow and S&P 500 closed higher for the third-straight week, as investors digested a handful of earnings reports and ahead of some key economic data.
"Investors are waiting for more in terms of earnings and economic reports," said Michael Sheldon, chief market strategist at RDM Financial Group. "The tone of the market overall remains positive, but the rate of gains may slow down from the rate we've seen over the past several weeks."
Among earnings, Merck posted earnings that edged past expectations, but revenue was slightly short of consensus. The drugmaker also reported full-year forecast above current analyst forecasts, though the company warned its third quarter results were hurt by the expiration of various patents, and by negative currency impact.
On the economic front, industrial production rose 0.6 percent in September, logging its largest increase in seven months, according to the Federal Reserve. Economists polled by Reuters had expected industrial output would rise 0.4 percent.
Pending home sales will be reported at 10 am ET.