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Wall Street set to open higher as earnings dominate trading

U.S. stock index futures pointed to a slightly higher open on Monday as investors keep their focus on earnings reports.

Dow futures rose 54 points, while S&P and Nasdaq 100 futures climbed 3points and 12.5 points, respectively.

French drug maker Sanofi and HSBC released their latest figures before the bell. HSBC, Europe's largest bank, announced a 5 percent rise in pretax profits in the first half of 2017 as well as the third share buyback in a year. Pandora Media, Alexandria Real Estate and Itau Unibanco are due to report after the bell.

In terms of data, investors will be watching out for Chicago PMI numbers due at 0945 EST , pending home sales at 10 EST time and the Dallas Fed manufacturing figures at 1030 EST time.

Meanwhile, investors will also be assessing developments between Russia and the U.S.
On Friday, the Kremlin told Washington it needs to cut 755 of its staff members in Russia and further measures could be taken as a result of new sanctions against Moscow.

In commodity markets, oil prices hit their highest level in approximately two months on Monday morning as the U.S. considers sanctions against Venezuela. At 0752 ET, Brent was trading slightly higher at $52.62 and WTI stood at $49.71.