Dow futures point to a modest open ahead of earnings

U.S. stock index futures were slightly higher Monday morning, as market participants awaited further earnings reports.

At around 4:30 a.m. ET, Dow futures were down 5 points, indicating a negative open of more than 5 points. Futures for the S&P and Nasdaq were both slightly lower.

Corporate earnings will be the biggest focus Monday, with two of the biggest Wall Street banks reporting.

Citigroup and Goldman Sachs will update investors before the bell as well as Charles Schwab and M&T Bank.

Market players are also carefully watching any Fed-related developments amid predictions of a potential cut in rates. Speaking to CNBC Friday, Mohamed El-Erian, Allianz’s chief economic advisor, said the Fed has gone from “too hawkish” last year to “too dovish” at the moment. Chicago Fed President Charles Evans speaks exclusively to CNBC at 8.30 a.m. E.T.

On the data front, there will be Empire State manufacturing data at 8.30 a.m. ET and TIC data at 4 p.m. ET.