* Twitter (NYSE: TWTR ) plunges on grim outlook
* Chevron down as profit drops on weaker refining margins
* U.S. consumer spending rebounds in March
* Futures down: Dow 0.49%, S&P 0.62%, Nasdaq 0.83%
(Adds comments, bullets; updates prices throughout)
By Shivani Kumaresan
April 30 (Reuters) - Wall Street's three main indexes were set to fall at the open on Friday as investors hit pause after a barrage of strong earnings and upbeat economic data through the week drove the benchmark S&P 500 index to record level.
A rally in shares of big technology companies following their impressive results has put all three major indexes on track for weekly gains, while setting up the Nasdaq index .IXIC for a sixth straight month of increase.
"A lot of the earnings is already in, and so the market has entered a fatigue environment and investors are now going to assess the economic picture," said Peter Cardillo, chief market economist at Spartan Capital in New York.
Amazon.com Inc AMZN.O rose 1.8% in premarket trading after posting record profits and signaling that consumers would keep spending in a growing U.S. economy and converts to online shopping are not likely to leave. Inc TWTR.N plunged 12.6% as it offered tepid revenue forecast for the second quarter, saying user growth could slow as the boost seen during the coronavirus pandemic fizzles. high-flying stocks, including Facebook Inc FB.O , Alphabet Inc GOOGL.O , Apple Inc AAPL.O and Netflix Inc NFLX.O , fell between 1.0% and 1.8%.
Strong economic growth in the first quarter, along with the Federal Reserve's stance of keeping monetary policy loose for the foreseeable future, has pushed global stocks near record highs.
Data on Friday showed U.S. consumer spending rebounded in March amid a surge in income as households received additional COVID-19 pandemic relief money from the government. 8:36 a.m. ET, Dow e-minis 1YMcv1 were down 166 points, or 0.49%, S&P 500 e-minis EScv1 were down 26 points, or 0.62%, and Nasdaq 100 e-minis NQcv1 were down 115.75 points, or 0.83%.
Chevron Corp (NYSE: CVX ) CVX.N shed 2.4% after its first-quarter profit fell 29%, hit by weaker refining margins and production losses. Sciences Inc GILD.O fell 2.8% after its first-quarter revenue fell short of Wall Street estimates as the coronavirus pandemic hurt sales of its flagship HIV and hepatitis C drugs.
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