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By Bloomberg

U.S. stock-index futures were little changed as investors weighed quarterly results and deal activity.

S&P 500 E-mini contracts expiring in September gained less than 0.1 percent to 2,094.5 at 6:29 a.m. in New York. The gauge rose for the first time in four days on Wednesday after better- than-estimated earnings from technology companies. Futures on the Dow Jones Industrial Average lost 5 points to 17,470 today.

“It’s the summer lull which is finally here,” said Christian Gattiker, head of research at Julius Baer Group in Zurich. “The corporate-earnings season is in full swing and unless that brings a big surprise, the market will be trading in a tight range.”

Allergan Plc, Nvidia Corp. and Viacom Inc. are among 14 companies reporting today. About 85 percent of S&P 500 members have already released figures, with three-quarters beating profit estimates and half topping sales projections. Analysts now call for a 2.8 percent drop in second-quarter earnings, shallower than July 10 estimates for a 6.4 percent fall.

Investors are also watching economic reports to gauge when the Federal Reserve will increase interest rates. Data today will show initial jobless claims rose to 272,000 last week from 267,000 the previous period, according to forecasts. Friday’s report on payroll data will also be parsed for indications on the likelihood of a September rate increase.

“The next big thing is the September rate hike and the Friday labor data is the indicator for that,” said Gattiker. “If we see a wonderful, strong, bullish labor market report, the market will not take it well because this would immediately then get the September rate hike back on the table.”

Mondelez Stake

Mondelez International Inc. climbed 10 percent in early New York trading after Pershing Square Capital Management said it has built a stake in the food-and-beverage company valued at about $5.6 billion.

Transocean Ltd. rose 7.8 percent after the world’s largest offshore rig owner posted better-than-estimated earnings amid costs cuts.

Chesapeake Energy Corp. rose 3.1 percent after saying it’s in discussions to sell more assets or stakes in oil fields as the prospect of a prolonged energy-market slump imperils cash flow.

Tesla Motors Inc. fell 6.3 percent after the electric-car maker backed off its full-year vehicle sales prediction. Keurig Green Mountain Inc. plummeted 29 percent after the maker of single-serve coffee systems cut sales and profit forecasts.

Fitbit Inc. slid 9.4 percent after the maker of wearable fitness trackers posted narrower margins in its first earnings report following an initial public offering.