Stock Futures Pause After Dow Passes 34000

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U.S. stock futures were mostly steady ahead of another volley of earnings from blue-chip companies.

Futures tied to the S&P 500 ticked down 0.1% after the benchmark stocks gauge posted its 22nd all-time closing high of 2021 on Thursday. Contracts for the Dow Jones Industrial Average, which also hit a record, were relatively flat. Futures for the technology-heavy Nasdaq-100 index edged down 0.2%.

Earnings from Morgan Stanley , Bank of New York Mellon , Citizens Financial Group and PNC Financial Services Group are due before the opening bell. Fund manager and custodian State Street is also scheduled to publish results, as is railroad Kansas City Southern .

A strong start to earnings season from banks and other financial companies has combined with data showing the economy is growing at a rapid clip to propel stocks higher this week. Adding to the momentum: A drop in yields on U.S. government bonds that has surprised some investors in its size and speed.

Data out Friday showing the Chinese economy grew at a record rate of 18.3% in the first quarter will add to optimism about the U.S.’s economic prospects, said Remi Olu-Pitan, multiasset fund manager at U.K. investment firm Schroders.