U.S. stock futures little changed before earnings

NEW YORK, Oct 16 (Reuters) U.S. stock index futures were little changed on Monday, indicating a flat market opening, before a deluge of company earnings and speeches from Federal Reserve officials, with blue chips at a record high after a three-week rally.

UnitedHealth Group Inc., one of the largest U.S. health insurers, said on Sunday Chief Executive William McGuire will leave the company by Dec. 1 after a scandal over backdated stock options. For details, see ID:nN15273404 More signs of corporate profit growth could extend the stock market's rally, putting the Dow Jones industrial average above the 12,000 mark for the first time in its 110-year history.

''We have many big household names reporting results this week and that's where the main focus will be,'' said Art Hogan, chief market analyst, at Jefferies&Co., in Boston. ''We had a terrific rally in stocks, but a couple of solid reports can send stocks higher.'' The week's earnings include results from two Dow components, financial services company Citigroup Inc. and Intel Corp., the world's largest chip maker.

S&P 500 futures were up 0.30 point, above fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.

Dow Jones industrial average futures were down 1 point, and Nasdaq 100 futures were up 0.25 point.

Through Oct. 13, 45 Standard&Poor's 500 companies reported quarterly earnings, according to Reuters Estimates, and 73 percent of companies beat estimates.

Mattel Inc., the No. 1 U.S. toy maker, said on Monday third-quarter profit rose. ID:nN16331076 Further clues on the likely path of U.S. monetary policy could come from Fed Chairman Ben Bernanke, who is due to speak on banking regulation at 1:30 p.m. (1730 GMT) on Monday. Also due to speak, at 3:40 p.m. (1940 GMT), is San Francisco Fed Bank President Janet Yellen.

A rise in oil prices may temper gains in stocks. Oil rose to a barrel on Monday as OPEC's decision to hold an emergency meeting later this week raised expectations the cartel would implement a production cut.

Stocks ended last week higher, with the Dow average finishing on Friday at another record high of 11,960.51, within 40 points of the historic 12,000 level.

For the three major U.S. stock indexes, Friday's close marked the third straight week of gains.

REUTERS SBA GC1635