U.S. stock index futures pointed to a softer open on Monday as a renewed decline in oil prices weighed ahead of some big-name earnings and the U.S. Federal Reserve meeting this week. Stocks managed to eke out their first positive week of the year on Friday.
Crude oil fell on continuing oversupply woes and profit-taking on Monday, reversing from early gains that followed a surge at the end of last week.
McDonald's earnings beat on both the top and bottom line. The fast food giant also posted better-than-expected same-restaurant sales for the quarter, helped by the launch of all-day breakfasts in the United States and recovering demand in China. The stock jumped 3 percent in pre-market trade, on track to open at a record high.
Halliburton reported earnings 7 cents above estimates on revenue slightly below forecasts, but the oilfield services giant was able to benefit from cost cuts amid falling oil prices.
DR Horton posted earnings that topped expectations, with revenue also above estimates. Sales orders were up 9 percent from a year earlier, with the value of those orders rising by 12 percent.
Kimberly-Clark missed slightly on both earnings and revenue, noting impact from unfavorable foreign currency trends. Organic sales did rise by 5 percent.