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 Amazon.com 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.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search