Stock futures drop ahead of busy earnings week

July 18, 2011 - 8:14 AM
Wall Street

FILE - In the June 22, 2011 file photo, traders work on the floor of the New York Stock Exchange. Global stock markets took a battering Monday, July 18, 2011, as investors fled for the security of other assets amid concerns that Europe's debt crisis could engulf larger economies and ahead of another round of discussions over the U.S. debt ceiling.(AP Photo/Richard Drew, file)

NEW YORK (AP) — Stock futures are falling ahead of a busy week for corporate earnings reports.

Toy maker Hasbro Inc., newspaper chain Gannett Co. Inc. and broker Charles Schwab Corp. report on Monday. Hasbro said net income rose in the second quarter on stronger sales of Transformers action figures and other products.

IBM Corp. reports after the close of trading. More than 100 of the companies in the S&P 500 index are set to release second-quarter results this week.

Ahead of the opening bell, Dow futures are down 95 points, or 0.8 percent, at 12,357. S&P 500 futures are down 11, or 0.9 percent, at 1,309. Nasdaq 100 futures are down 20 or 0.9 percent, at 2,335.