Dow, S&P 500 seek to continue summer streak

The Dow and the S&P 500 are coming off four straight weeks of gains, despite a mixed Friday, and the S&P 500 is currently on pact for its best monthly gain since October of 2011. Quarterly earnings are likely to be the key influence on the markets, with the busiest part of earnings season occurring this week and next.

Today marks the first of three straight days containing economic reports on the housing market, beginning with June existing home sales from the National Association of Realtors at 10 a.m. ET. Economists are looking for a 1.9 percent increase in sales to an annual rate of 5.28 million, compared to May's 4.2 percent advance.

Dow component McDonald's (MCD) is the most prominent of today's earnings reports, due out at 8 a.m. ET. Other reports scheduled for this morning include Hasbro (HAS), Halliburton (HAL), Gannett (GCI), and Kimberly-Clark (KMB), while Netflix (NFLX), Texas Instruments (TXN), and Zions Bancorp (ZION) are among the companies scheduled to report after today's closing bell.

Microsoft (MMSFT) is among our stocks to watch in today's trading, following the stock's biggest drop in four years on Friday. Reuters reports that activist shareholder ValueAct Capital Management has held talks with Microsoft directors about its demands for a seat on the board.

Saks (SKS) shares could bet a boost on a New York Post report that Starwood Capital CEO Barry Sternlicht has submitted a bid for the retailer.

Navistar (NAV) investor Carl Icahn has increased his stake in the heavy equipment maker to 16.55 percent from 15.54 percent.

Apple (AAPL) is buying transit mapping app maker Hopstop for an undisclosed price. Hopstop was founded in 2005 and has two million monthly active users.

Boeing (BA) continues to be on investors' radar, as the FAA decides to follow the recommendation of British officials and call for inspection of the Emergency Locator Transmitters on Boeing 787 jets.

SAP (SAP) is moving co-chief executive Jim Hagemann Snabe to its supervisory board, leaving the other co-chief executive, Bill McDermott, as the software maker's sole CEO.

Deutsche Bank (DB) is set to trim its balance sheet by 20 percent, according to the Financial Times. The move would take place by the end of 2015.

UBS (UBS) has reached a tentative settlement with U.S. authorities of a lawsuit that sought to recover more than $900 million in losses related to mortgage backed securities. No details of the deal, which still needs final approval by both sides, were released.

GlaxoSmithKline (GSK) issued a statement saying that certain senior executives in its China uni4t "appear to have acted outside our processes and controls which breaches Chinese law" and that it has "zero tolerance" for such behavior. China officials have been investigated suspicions that doctors and hospitals were bribed to prescribe Glaxo drugs.

AstraZeneca (AZN) offices were visited by Shanghai police, with one employee taken in for questioning. The drugmaker said it was not yet gotten any further updates from officials.

Apple's (AAPL) primary developer website is shut down after hackers tried to steal information from the site. Apple does say that no customer information was compromised.