Stocks Retreat Before Wave of Earnings

Futures are pulling back this morning with stocks parked at long-term highs and a torrent of earnings scheduled for this week.

The S&P 500 is indicated to open down fractionally amid small declines in Europe. Asian indexes were mixed but mostly negative overnight.

Equities have been plowing higher for the last two months, bringing the S&P 500 to its highest level since late 2007. The Dow Jones Transport Index and Russell 2000 both closed at all-time highs on Friday. (U.S. markets were closed yesterday for Martin Luther King Day.)

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