Stock futures down after talks on oil output freeze collapse

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[April 18, 2016]  By Abhiram Nandakumar

(Reuters) - U.S. stock index futures were lower on Monday as crude prices slipped after a much anticipated meeting of oil producers failed to result in a deal to freeze production.

* Crude was down more than 3 percent after the failed talks in Doha renewed fears of an escalating battle for market share among the major producing countries and add to the stubborn global surplus. [O/R]

* Shares of Chevron were down 1.8 percent in premarket trading, while Exxon shed 1.6 percent.

* Global stocks fell, while gold edged up, as investors avoided risky bets. Japan's stock market tumbled after a series of massive earthquakes over the weekend.

* Adding to the dour start to the week was data that showed China's economy grew at a slower-than-expected pace in the first quarter - another sign that the world's second largest economy was still struggling.

* While macroeconomic and geopolitical factors continue to weigh on markets, focus now turns to U.S. earnings reports as investors look for the impact of the global turmoil on financial markets and the slump in commodity prices on balance sheets.

* Morgan Stanley <MS.N> jumped 1.9 percent to $26.25 after the Wall Street bank's quarterly profit beat estimates.

* Pepsico <PEP.N> was unchanged at $103.77 after the company reported a fall in quarterly sales.

* Expectations for the first quarter are bleak, with earnings at S&P 500 companies seen falling 7.8 percent on average and revenue expected to fall 1.6 percent, according to Thomson Reuters I/B/E/S.

* IBM  and Netflix  are slated to post results after the market closes.

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* U.S. stocks closed slightly lower on Friday after a report that Apple would continue its reduced production of iPhones.

* NetApp fell 2.5 percent to $24.50 on Monday after Sterne Agee cut its rating on the stock to underperform.

Futures snapshot at 6:53 a.m. EDT:

* Dow e-minis were down 45 points, or 0.25 percent, with 25,119 contracts changing hands.

* S&P 500 e-minis  were down 6.75 points, or 0.33 percent, with 225,285 contracts traded.

* Nasdaq 100 e-minis were down 12.75 points, or 0.28 percent, on 27,101 contracts.

(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Don Sebastian)

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