NEW YORK (TheStreet) -- Stock futures were little changed Monday awaiting this week's Federal Reserve policy announcement on Wednesday, July government jobs report on Friday and second-quarter GDP figures on Wednesday. Dow Jones Industrial Average futures were down 3 points, or 4.57 points below fair value, to 16,888. Futures for the S&P 500 were down 0.5 points, or 1.14 points below fair value, to 1,971. Nasdaq futures were up 1.3 points, or 0.61 points below fair value, to 3,956.8. Read More: Stock Market Today: Amazon, Visa Drag on U.S. Markets, S&P 500 Flat for the Week U.S. stock markets slipped on Friday as some of the largest names, including Amazon and Visa , reported unimpressive earnings. While the S&P 500 is still higher by 7% in 2014 and less than 1% off its latest all-time high achievement last week with the help of generally solid earnings reports, the Russell 2000 and the Dow Jones Industrial Average did not join the S&P 500 at new records.Read More: July 28 Premarket Briefing: 10 Things You Should Know "This coming week should provide another major test for markets, as we prepare for another big week of earnings reports, the FOMC statement and a barrage of economic news," noted Gina Martin Adams, senior analyst at Wells Fargo Securities Equity Strategy. A whopping 152 S&P 500 companies are expected to report this week, including 29 financial companies, 22 energy companies and 21 industrials companies. Currently, the consensus expects 6.7% year-over-year S&P 500 earnings-per-share growth for the second quarter, up from forecasts of 6.3%, according to Wells Fargo Securities Equity Strategy. Ahead of the market open, Tyson Foods was higher by 0.78% to $39.85 after posting a quarterly earnings per share increase of about 9% to 75 cents. It was also revealed that Brazilian meat processor JBS will buy Tyson's poultry businesses in Mexico and Brazil for $575 million in cash. Goldman Sachs economists say they expect that next week's FOMC statement will show very little change. The FOMC might choose to upgrade the language on growth in economic activity somewhat and also strengthen its language on labor market indicators a touch in recognition of the strong June employment report. For the most part, however, recent data have supported the slightly more accommodative-than-expected June statement, which indicated an improvement in the economy from March but voiced concerns about a still elevated jobless rate. In particular, the softer June CPI print likely reinforced the Committee's decision to downplay the firmer inflation prints seen from March to May. Weak housing starts and new-home sales reports have likely reinforced concern about the housing sector, according to Goldman Sachs. Also out on Wednesday will be second-quarter GDP data, which is expected by economists to show 3% growth after the first quarter's 2.9% contraction. First-quarter upward revisions are anticipated when the Commerce Department this week provides revisions for three years. Read More: European Markets Mixed on Pharma Spinoff, Babywear Merger Collapse Monday's June pending home sales report will be out at 10 a.m. The July "flash" Markit PMI services index is expected at 9:45 a.m. Markets were mixed in Europe on a mixed bag of results this morning and with little by way of direction from economic data. Germany's market -- still more sensitive to events in Ukraine than elsewhere in Europe -- was down, while London and Paris were in positive territory. In Asia, the Shanghai Composite rose 2.41% to 2,177.95, after official data showed industrial profits in China rose 17.9% in the year to June. In Hong Kong the Hang Seng closed up 0.88% at 24,428.63 and in Tokyo, the Nikkei 225 was up 0.46% at 15,529.4. -- By Andrea Tse in New York
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