US STOCKS-Futures slightly higher ahead of consumer spending data

  • Reuters
  • Stock Market News
US STOCKS-Futures slightly higher ahead of consumer spending data
Credit: © Reuters.

By Ankur Banerjee

June 30 (Reuters) - U.S. stock index futures were slightly higher on Friday, a day after Wall Street fell sharply, as investors awaited a slew of economic data, including on consumer spending, a key indicator for U.S. economy.

* The S&P 500 and the Dow industrials slipped to their worst daily percentage drop in about six weeks on Thursday as a recent decline in technology shares deepened and outweighed strength in bank shares. Tech stocks, which have led the S&P 500's 8-percent gain this year, pulled back recently as some investors questioned the sector's high valuations.

* With the second quarter at an end, the market has witnessed a few volatile days. On Wednesday, the tech-heavy Nasdaq posted its best day since Nov. 7.

* Crude oil futures on Friday were on track for their biggest weekly gain since mid-May, ending five weeks of losses with prices underpinned by a decline in U.S. output. O/R

* The euro came off yearly highs on Friday but was still set for its strongest quarter in six years as investors piled into the currency on a brightening euro zone economy and its implications for monetary policy in the bloc.

* The U.S. Commerce Department is likely to show a 0.3 percent rise in personal income, while consumer spending for May is estimated to have increased at a slower pace of 0.1 percent, after a 0.4 percent jump in April. The data is due at 8:30 a.m. ET (1230 GMT)

* The final reading of University Of Michigan Surveys Of Consumers Sentiment for June is due at 10:00 a.m. ET (1400 GMT)

** Nike (NYSE: NKE ) shares NKE.N were up 6 percent after the world's largest footwear maker said on Thursday it would launch a pilot program with Inc AMZN.O to sell a limited product assortment on its website. Shares of Cara Therapeutics Inc CARA.O plunged 29 percent after the biotech reported disappointing pain treatment data from a key study. snapshot at 6:51 a.m. ET:

* Dow e-minis 1YMc1 were up 44 points, or 0.21 percent, with 29,538 contracts changing hands.

* S&P 500 e-minis ESc1 were up 5.75 points, or 0.24 percent, with 168,737 contracts traded.

* Nasdaq 100 e-minis NQc1 were up 25 points, or 0.44 percent, on volume of 44,593 contracts.

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