US STOCKS-Futures slightly lower on earnings from industrial giants

* Futures down: Dow 28 pts, S&P 1.25 pts, Nasdaq 9.5 pts

By Tanya Agrawal

July 21 (Reuters) – U.S. stock index futures were slightly
lower on Friday, but continued to hover around record levels, as
investors took cues from earnings reports of industrial
heavyweights General Electric and Honeywell.

* Shares of GE were up 0.60 percent in premarket
trading after the company results beat estimates on strength in
its renewables and power businesses.

* Honeywell International was up 0.91 percent after
the technology and manufacturing company reported a rise in its
second-quarter profit.

* Microsoft rose 0.31 percent and was on track to
open at an all-time high after reporting strong fourth-quarter
earnings.

* Attention will turn to earnings from big tech names next
week, including Amazon, Alphabet and Facebook
.

* The Nasdaq notched its 10th straight record close on
Thursday, marking its best streak since February 2015.

* The tech sector has been the best performing S&P sector
this year, despite concerns over stretched valuation, as
investors look for growth in an otherwise low-growth environment
and sectors that are relatively immune from a policy gridlock in
Washington.

* Stocks ended little changed on Wall Street on Thursday as
a deal between Sears and Amazon weighed on home
improvement retailers, along with weak earnings.

* Still, overall earnings are expected to be good with
analysts expecting earnings to have climbed 8.6 percent, above
the 8-percent rise projected at the start of the month,
according to Thomson Reuters I/B/E/S. About 15 percent of S&P
500 companies have posted results so far.

* Visa rose 1.8 percent after the world’s largest
payments network operator reported a better-than-expected
quarterly profit and raised its annual earnings forecast.

* EBay fell 4.2 percent as the company warned that
adjusted profit this quarter could fall below analysts’
estimates.

* The market will also keep an eye on the Federal Reserve
meeting next week for their take on the health of the economy.
While no rate hike is expected, the central bank’s take on
slowing inflation will be keenly awaited.

Futures snapshot at 6:55 a.m. ET (1055 GMT):

* Dow e-minis were down 28 points, or 0.13 percent,
with 12,444 contracts changing hands.

* S&P 500 e-minis were down 1.25 points, or 0.05
percent, with 90,000 contracts traded.

* Nasdaq 100 e-minis were down 9.5 points, or 0.16
percent, on volume of 16,445 contracts.
(Reporting by Tanya Agrawal; Editing by Arun Koyyur)