Futures dip on global economy concerns; data, earnings due

[October 15, 2014]  By Chuck Mikolajczak

NEW YORK (Reuters) - U.S. stock index futures were slightly lower Wednesday ahead of a slew of data and corporate earnings, after the S&P 500 eked a tiny gain at the close a day earlier following three sessions of declines spurred by worries over the global economy.

* The benchmark S&P index has lost 6.6 percent since its Sept. 18 record closing high and is now up just 1.6 percent for the year, while the Dow <.DJI> is down 1.6 percent since Dec. 31.

* At 8:30 a.m. EDT (1230 GMT), investors will digest a trio of economic reports, including the Empire State Manufacturing Survey for October, as well as retail sales and the producer price index for September.

* Investors will also look to the latest earnings reports for signs of growth. Bank of America shares <BAC.N> were up 1.1 percent to $16.70 in premarket after posting its third-quarter results.

* Later in the session at 10:00 a.m. (1400 GMT), business inventories for August are due, while the Federal Reserve's Beige Book on business activity across the nation is expected at 2:00 p.m.

* S&P 500 companies are expected to show earnings growth of 6.4 percent in the third quarter, according to Thomson Reuters data, with revenue growth expected at 4 percent.

* U.S.-listed shares of Shire <SHPG.O> tumbled 25 percent to $183.45 before the opening bell after Chicago-based AbbVie <ABBV.N> said it was reconsidering its $55 billion takeover of the company weeks after the U.S. government moved to curb deals designed to reduce tax. AbbVie shares declined 1.8 percent to $53.15 in premarket.

* European stocks fell on Wednesday, with a benchmark index hovering above an eight-month low hit in the previous session as concerns over the strength of the global economy continued.

* Asian stocks regained some stability following days of steep losses, but sentiment remained fragile as benign Chinese inflation data and gloom in the euro zone economy added to signs of a faltering global economic recovery.

* S&P 500 e-minis were down 5.75 points, or 0.31 percent, with 230,265 contracts changing hands.

* Nasdaq 100 e-minis <NQc1> were down 5.5 points, or 0.14 percent, in volume of 29,143 contracts.

* Dow e-minis <1YMc1> were down 24 points, or 0.15 percent, with 37,343 contracts changing hands.

(Editing by Bernadette Baum)

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