Stock index futures opened relatively unchanged after major indexes finished slightly higher in Friday's session and the S&P 500 posted its biggest weekly gain this year. Technology and healthcare stocks led the rally, while the energy sector dragged.
Tonight, Dow futures were slightly down 35 points, or about 0.21% in New York, and S&P 500 E-mini futures fell 0.21%. Nasdaq 100 E-mini futures were lower by 0.2%. The U.S. Dollar Index (.DXY) ticked higher by 0.05%.
The bond market will be closed for the Columbus Day holiday.
For those worried about China's recent impact on the market, there are plenty of positive numbers coming out of the country's Golden Week holiday, a huge time of tourism, travel and retail and entertainment spending in the country.
Sales at restaurants and retailers totaled more than 1 trillion yuan and 1.85 billion yuan was spent at the China box office, while 750 million trips were taken, Bloomberg reported.
Over the weekend, Deutsche Bank (DB) is reportedly considering the sale of its Abbey Life Insurance unit, sources told Bloomberg, as the German bank deals with the declining profitability of its asset management arm.
Credit Suisse (CS) has "well advanced" plans to cut costs by 7-10%, which would translate into an annual reduction of as much as 2 billion Swiss francs ($2.1 billion) for the group, Bloomberg reported, citing sources who spoke to the Swiss newspaper Schweiz am Sonntag.
Media company Tegna (TGNA) and Dish Network (DISH) reached a new agreement that restores customers' access to local channels in 38 markets across the U.S. after a two-day blackout, Bloomberg reported.
And Ferrari will be valued at as much as $9.82 billion in an initial public offering when owner Fiat Chrysler Automobiles NV (FCAU) sells a 9% stake in the Italian supercar manufacturer, Bloomberg reported after hours on Friday.
Looking ahead, on Monday, TheStreet's Jim Cramer said to watch Washington because with the perennial government shutdown showdown making the front page, stocks will begin sliding lower until the shutdown actually happens. This is usually the bottom, a signal to start buying again.
Beyond Washington, we'll be watching earnings. We're focused on Johnson & Johnson (JNJ) on Tuesday, even though Cramer prefers Eli Lilly (LLY) and Bristol-Myers Squibb (BMY).
Cramer is tentative on JPMorgan Chase (JPM) and CSX (CSX), where he sees little chance of an upside surprise. Intel (INTC) is important to watch to determine whether or not to trim the other old tech names that have been rallying of late, Cramer noted.
On Wednesday, Delta Airlines (DAL) reports, which Cramer says is a buy on any weakness. He was also bullish on two Action Alerts PLUS names, Bank of America (BAC) and Wells Fargo (WFC).
On Thursday, Citigroup (C) and Goldman Sachs (GS) report, along with oil service giant Schlumberger (SLB). Cramer was neutral on both of these financials, but he is bullish on Schlumberger after the selloff last quarter. SLB is down more than 10% year to date.
On Friday, we're watching industrials. General Electric (GE) and Honeywell (HON), another Action Alerts PLUS name to report. Cramer said to buy GE going into the quarter and is also positive on Honeywell's outlook. GE has been refocusing its core business. To this end, the latest news came Friday with the company in advanced talks to sell a specialty finance portfolio, worth more than $30 billion, to Wells Fargo, sources told Reuters.
Separately, Barron's cover story reflected on presidential candidate Donald Trump's character, recounting an incident when he attacked a little-known securities analyst who didn't think the Taj Mahal casino was a good bet.
And for a couple stock picks, Mattel (MAT) could rise 35%. A new brainer Barbie and its 7% dividend yield could help the shares, Barron's said. And beaten-down Micron (MU) looks ready to revive amid coming products and the chip industry's consolidation, Barron's noted.
For even more information on data and earnings in the week ahead, you can reference The Street's weekly earnings calendar.
