Futures rise as earnings remain in focus

(Reuters) - U.S. stock index futures rose on Monday with earnings continuing to be in focus after the Nasdaq composite closed at a record high for a second straight session and the S&P 500 stopped short of its record high.

* On Friday, strong earnings from Google pushed the tech-heavy Nasdaq to a record close, which gained 4.3 percent for the week, its largest weekly gain since October.

* Tech earnings will continue to be in focus this week with IBM reporting after the close on Monday and other big tech giants such as Apple , Yahoo and Microsoft expected to report later this week.

* U.S. companies have been expected to post their worst sales decline in nearly six years in the second quarter, in part due to the strong dollar that reduces the value of U.S. companies' overseas income. Profit is expected to have fallen 2.9 percent, according to Thomson Reuters estimates.

* The dollar index <.DXY> was up 0.1 percent at $97.97. It had earlier hit a three-month high due to expectations of a Federal Reserve rate hike this year.

* Investor sentiment was also buoyed by progress in the Greek debt crisis. Greek banks reopened their branches across the country after a three-week shutdown.

* Morgan Stanley shares were up 3.9 percent to $41.75 in premarket trading after the U.S. bank's consolidates net revenue rose 13 percent.

* PayPal Holdings was up 4.2 percent to $40 on a "when-issued" basis premarket ahead of its trading debut after it split from e-commerce company eBay

Futures snapshot at 7:14 a.m. ET (1114 GMT):

* S&P 500 e-minis were up 2 points, or 0.09 percent, with 45,776 contracts traded.

* Nasdaq 100 e-minis were up 7.75 points, or 0.17 percent, on volume of 8,884 contracts.

* Dow e-minis <1YMc1> were up 21 points, or 0.12 percent, with 7,234 contracts changing hands.

(Reporting by Tanya Agrawal; Editing by Don Sebastian)

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