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Stock futures slightly higher after decline, oil down again

[December 02, 2014]  By Ryan Vlastelica

NEW YORK (Reuters) - Stock futures were slightly higher on Tuesday, indicating a slight rebound from the previous session's broad decline, which was the S&P 500's weakest day in a month.

* Energy shares will be in focus as crude oil continues its recent volatility. U.S. crude futures <CLc1> were down 1.2 percent to $68.16 per barrel. While the commodity jumped on Monday, that followed a plummet of more than 10 percent last week, a decline that took it to multi-year lows.

* Declines in energy shares have corresponded with the weakness in oil, which is down more than 30 percent from a recent high. The S&P 500 energy index <.SPNY> is the weakest industry group by far this year, and the only one to be negative for 2014.

* Apple Inc <AAPL.O> edged slightly higher in premarket trading. The tech giant lost 3.2 percent on Monday, dropping in its biggest one-day drop since September. The stock, the biggest U.S. company by market cap, was also hit by unusual trading activity shortly after the market opened, tumbling in the span of a minute in what some traders deemed a "mini-flash crash."

* Avanir Pharmaceuticals Inc <AVNR.O> rose 12.5 percent to $16.88 in premarket trading after Otsuka Pharmaceutical Co Ltd agreed to buy the company for about $3.5 billion to expand its neurologic drug portfolio.

* Investors are looking ahead to a read on October construction spending, due at 10 a.m. (1500 GMT) and seen rising by 0.6 percent. Markets may be vulnerable to a weak read, which would follow tepid reports on manufacturing on Monday and could prompt traders to take profits.

* Despite Monday's decline, equities have been strong of late and continue to hover near record levels. Major indexes closed out a sixth straight week of gains last week.

Futures snapshot at 6:57:

* S&P 500 e-minis were up 3.75 points, or 0.18 percent, with 119,123 contracts changing hands.

* Nasdaq 100 e-minis were up 12.25 points, or 0.29 percent, in volume of 17,492 contracts.

* Dow e-minis were up 37 points, or 0.21 percent, with 25,044 contracts changing hands.

(Editing by Chizu Nomiyama)

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