To date 88 companies of S&P 500 have already reported earnings: 78% of them have beat expectations, according to Thomson Reuters.
Intel Corp. and American Express Co. are companies reporting earnings today.

The chairman of senate antitrust subcommittee Chair Herb Kohl called to block the AT&T's merger as it may hurt national competitors. Recently AT&T announced its plans to buy the T-Mobile USA division of Deutsche Telekom.

Today the main pressure today was US data on real estate market as before the bell the National Association of Realtors reported sales of single-family existing homes fell by 0.8%, the third consecutive monthly drop. The figure declined to 477K, down from analysts’ estimates of 494K and 481K in May.

Despite better-than-expected earnings from Apple Inc., it didn’t lead a new rally in Technology sector. In addition, Yahoo! Inc. (YHOO) disappointed investors as company's Q2 revenue was below analysts' expectations, as well as Hanesbrands Inc. (HBI).

Yesterday after hours President Barack Obama praised a bipartisan plan of to cut $3.7 trillion through tax hikes and spending cuts. He calls the Senate "gang of 6" proposal "broadly consistent".

Currently: Dow 12,594 +7 +0.05%, Nasdaq 2,821 -5 -0.19%, S&P 1,329 +2 +0.16%.