Market Snapshot: Dow poised for fresh high in muted trading as investors brace for week of earnings

U.S. stock futures inched higher on Monday, setting the Dow average and Nasdaq Composite on track for all-time highs, even as traders assessed the risk from geopolitical tensions and looked to key earnings reports this week to set the tone for the markets.

What are stock futures doing?

Futures for the Dow Jones Industrial Average

YMZ7, +0.06%

 rose 15 points, or 0.1%, to 22,845. The blue chip benchmark

DJIA, +0.13%

 on Friday closed just 0.01% shy of its record close hit on Oct. 11, meaning just a small rise on Monday would leave the index in record territory.

Futures for the Nasdaq-100 index

NQZ7, +0.11%

 added 7.75 points, or 0.1%, to 6,107.50. The Nasdaq Composite Index

COMP, +0.22%

 on Friday ended at a record close for the 57th time in 2017.

Futures for the S&P 500 index

ESZ7, +0.03%

 rose 0.20 points on Monday to 2,553. The index

SPX, +0.09%

 on Friday rose 0.1% for its second highest close ever.

What are driving markets?

With little economic data on the docket, investors are waiting for another round of earnings reports this week from prominent companies. Netflix Inc.

NFLX, +1.85%

 reports after the close on Monday, with Morgan Stanley

MS, -0.60%

 and Goldman Sachs Group Inc.

GS, -0.53%

 on the docket Tuesday.

Political jitters are also on traders’ minds, including U.S. President Donald Trump’s threat to end the Iran nuclear deal and uncertainty over Catalonia’s push for independence in Spain.

The dollar got a boost from Federal Reserve Chairwoman Janet Yellen on Sunday, after she reiterated plans to push ahead with interest rate rises despite the weak inflation levels. The ICE Dollar index

DXY, +0.10%

 was up 0.1% at 93.228.

What’s on the calendar for Monday?

On the economic docket, the Empire state manufacturing index for October is the only major release, due at 8:30 a.m. Eastern Time.

Minneapolis Fed President Neel Kashkari is expected to appear in a moderated discussion at G100 dinner in Minneapolis at 9 p.m. Eastern.

What are strategists saying?

“With the dearth of macro data, greater impetus is sure to fall on geopolitics, with Trump threatening to up the Iran nuclear deal generating concerns among co signatories like the U.K., France and Germany. Is he trying to send a message to North Korea? Odd, with the EU set to tighten sanctions,” said analysts at Accendo Markets, in a note.

“The U.S. equity markets will likely be driven by earnings from major companies and banks this week. Morgan Stanley, Goldman Sachs, Blackstone Group, Chinese ICBC, Philip Morris, Unilever, Netflix and General Electric will post results throughout the week,” said Ipek Ozkardeskaya, senior market analyst, at London Capital Group, in a note.

Which stocks are in focus?

Shares of TransEnterix Inc.

TRXC, -0.68%

 soared 101% ahead of the bell after U.S. Food and Drug Administration late Friday gave marketing clearance to the company’s robotic surgery device.

What are other markets doing?

Asian stock markets closed mostly higher, boosted by rising metals prices.

In Europe, Spanish stocks

IBEX, -0.71%

 weighed on the broader markets

IBEX, -0.71%

after Catalan leader Carles Puigdemont failed to clarify whether the region’s leaders have formally declared independence after a regional referendum this month backed a split. The national government had given Puigdemont a deadline of Monday morning to make the situation clear.

Oil prices

CLX7, +1.30%

 rallied on concerns over Trump’s comments about the Iran deal and increased tensions in Kurdistan.