US STOCKS-Futures higher a day after S&P touches two-month low

  • Reuters
  • Stock Market News
US STOCKS-Futures higher a day after S&P touches two-month low
Credit: © Reuters.

* Futures higher: Dow 41 pts, S&P 4.25 pts, Nasdaq 12.75 pts

By Yashaswini Swamynathan
May 20 (Reuters) - U.S. stock index futures were higher on
Friday, a day after the S&P 500 fell to its lowest since March
as investors fretted about a rate hike as early as June.
* Oil was marginally up on Friday and hovered near a
six-month high, helped by supply disruptions in Canada and
Nigeria. O/R
* The Fed has pointed to a strengthening labor market and
rising inflation that would encourage the central bank to
further tighten monetary policy.
* New York Fed President William Dudley said on Thursday the
U.S. economy was strong enough to warrant a rate hike in June or
July.
* The S&P 500 has had a rough ride in the last few weeks,
following underwhelming corporate earnings, mixed economic data
and uncertainty regarding the trajectory of rate hikes.
* Up to Thursday's close, the benchmark index is 4.4 percent
short of its May 2015 record high.
* Existing home sales in the United States are expected to
have risen 1.3 percent in April. The data is due at 10:00 a.m.
ET (1400 GMT).
* Tesla TSLA.O rose 1.4 percent to $218.23 in premarket
trading on Friday after the company priced its secondary
offering of 9.3 million shares at $215 each.
* InterOil IOC.N jumped 23.7 percent to $39.16 after Oil
Search OSH.AX agreed to buy the company for $2.2 billion.

* Yahoo YHOO.O fell 5.05 percent to $35.15 after the Wall
Street Journal reported that Verizon and others were planning a
$2 billion-$3 billion bid for the company's core business.
snapshot at 7:16 a.m. EDT:
* S&P 500 e-minis ESc1 were up 4.25 points, or 0.21
percent, with 155,875 contracts traded.
* Nasdaq 100 e-minis NQc1 were up 12.75 points, or 0.3
percent, on volume of 21,843 contracts.
* Dow e-minis 1YMc1 were up 41 points, or 0.24 percent,
with 23,863 contracts changing hands.

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