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US stocks set for a flat open as fresh earnings, data roll in

Wall Street set to open modestly lower

U.S. stock index futures pointed to a muted open on Monday as Wall Street pored through the latest batch of corporate earnings.

Dow Jones Industrial Average futures were up 30 points, indicating a gain of 16.94 points at the open. S&P 500 futures pointed to a marginal gain at the open, while Nasdaq 100 futures slipped.

Caterpillar reported better-than-expected earnings and revenue, sending its shares up by 3.3 percent in the premarket. The Dow component also raised its full-year earnings outlook.

Bloomin' Brands, First Data and Seagate also posted stronger-than-forecast quarterly profits. AK Steel is scheduled to report Monday after the close.

In data, pending homes sales are due out at 10 a.m. ET, followed by the Dallas Fed's manufacturing survey at 10:30 a.m. ET.

This comes just days after the advance reading of the U.S.' gross domestic product (GDP) for the second quarter, which showed Friday that the economy had grown by 4.1 percent, in line with estimates.

Pedestrians walk along Wall Street near the New York Stock Exchange in New York.
Michael Nagle | Bloomberg | Getty Images

While no speeches by the Federal Reserve are scheduled to take place Monday, investors will be gearing up for the latest Federal Open Market Committee (FOMC), which is due to take place Tuesday and Wednesday.

A policy decision is set to be announced Wednesday afternoon and should provide some insight into the performance of the U.S. economy.

Elsewhere, concerns surrounding trade will remain in focus, as investors wonder what's next for relations between the U.S. and major economies.

President Donald Trump is set to welcome Prime Minister Giuseppe Conte of Italy to the White House on Monday, where the two leaders are likely to comment on global conflicts and how to promote economic prosperity on both sides of the Atlantic.