US STOCKS-Wall Street to open flat with focus on data, earnings

Reuters

* Netflix, Texas Instruments to post earnings after theclosing bell

* September home resales data expected at 1400 GMT

* Futures: Dow up 2 pts, S&P up 2 pts, Nasdaq up 9 pts

By Rodrigo Campos

NEW YORK, Oct 21 (Reuters) - U.S. stocks were set to openlittle changed on Monday following a record closing high by theS&P 500 on Friday, as a week filled with economic data and keycorporate earnings gets under way.

The S&P 500 capped Friday its biggest weekly gain in threemonths on stronger-than-expected earnings from companiesincluding Google and Morgan Stanley and as a deal in Washingtonhelped avert a possible government default and reopened thefederal government after a 16-day shutdown.

Shares of Dow component McDonald's fell 1.7 percentin premarket trading after earnings. Other companies expected toreport results on Monday include Netflix and TexasInstruments and more than 25 percent of the S&P 500components report this week.

"With no fresh themes emerging this morning, marketparticipants will continue to look towards earnings fordirection - and earnings have delivered," said Andre Bakhos,managing director at Janlyn Capital LLC in Bernardsville, NewJersey.

"It will primarily be an earnings and economic data drivenmarket," he said.

The National Association of Realtors releases existing-homesales for September at 10 a.m. (1400 GMT). Economists in aReuters survey forecast a 5.30 million unit annual rate versus5.48 million in August.

S&P 500 futures rose 2 points and dipped slightly interms of fair value, a formula that evaluates pricing by takinginto account interest rates, dividends and time to expiration onthe contract. Dow Jones industrial average futures rose 2points and Nasdaq 100 futures added 9 points.

Financial stocks could be in focus after JPMorgan Chase & Co reached a tentative $13 billion deal with the U.S.government to settle investigations into bad mortgage loans soldto investors by JPMorgan and the banks it bought during thefinancial crisis. JPMorgan shares fell 0.4 percentpremarket.

"A settlement of this size brings closure for many and itallows them to put the episode behind," Bakhos said.

Shares of Tellabs Inc rose 5.5 percent in premarkettrading after the network services provider agreed to be boughtby Marlin Equity Partners for $891 million.

Japan's exports rose but were well short of expectations inSeptember, a sign that slowing demand in Asia is taking theshine off Prime Minister Shinzo Abe's stimulus policies andclouding the outlook for a budding economic recovery.

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