Stock futures are beginning the week in negative territory as the earnings season picks up in earnest. The early weakness is being attributed to President Trump's response to a speech by the Iranian president, who threatened the U.S. by calling its policies hostile. It will be a big week for the Nasdaq as several bellwether tech companies are scheduled to report quarterly results, starting with Google parent Alphabet (GOOGL) tonight. The economic calendar includes reports on existing home sales for June and the Chicago Fed National Activity Index scheduled for release. In early pre-market trading, Dow futures are 32 points below fair value, Nasdaq futures are 30 points below fair value and S&P futures are 5 points below fair value.