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Earnings bonanza to hit Wall Street in the busiest week of reporting season

U.S. stock-index futures indicated a mildly lower open Monday, after closing higher for a fourth consecutive week on Friday.

The coming week is the busiest of the second-quarter earnings season, with key names including Apple and Facebook in the technology sector, Caterpillar in the industrial sector and Exxon Mobil and Chevron in the energy industry.

Kimberly-Clark reported earnings that beat on both the top and bottom line, while noting good performance in a challenging economic environment.

Sprint reported slightly better-than expected revenue as heavy discounts helped it attract the most postpaid subscribers on a net basis for any first quarter in nine years, Reuters said. However, the fourth-largest U.S. wireless carrier's net loss widened to $302 million, or 8 cents per share, from $20 million, or 1 cent per share, a year earlier, the newswire reported.

Gilead Sciences and Texas Instruments are also due to post quarterly results.

U.S. crude oil futures traded about 1.5 percent lower near $43.50 a barrel as of 8:55 a.m. ET.

There are no major U.S. economic data due out on Monday, with new home sales out on Tuesday and durable goods orders and the Federal Reserve interest-rate decision on Wednesday.

"The Fed is overwhelmingly expected to keep the Federal Funds Rate unchanged at 0.25-0.50 percent," Emily Nicol, economist at Daiwa Capital Markets, said in a note on Monday.

"Likely of more interest will be the post-meeting press statement, which will be watched closely for the Committee's assessment of post-UK-referendum risks and therefore any hints about the likely timing for future rate increases," she added.

In corporate news, Verizon announced Monday plans to acquire Yahoo for $4.8 billion in cash. Shares of Verizon were more than half a percent higher in pre-market trade, while Yahoo traded more than half a percent lower.

In political news, Hillary Clinton is expected to be formally nominated as the Democratic presidential candidate at the party's convention, which starts on Monday in Philadelphia.

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