Stock futures fall for second day as uncertainty weighs in

[July 06, 2016]  By Yashaswini Swamynathan

(Reuters) - U.S. stock index futures were lower for the second day on Wednesday as fears of instability after Britain's vote to leave the European Union added to global growth worries.

* U.S. Treasury yields <US10-YT=RR> touched a fresh low, while gold hit a two-year high, as investors fled to safe havens.

* The U.S. Federal Reserve will release the minutes of its June meeting at 2:00 p.m. ET (1800 GMT). Traders will peruse the comments for clues on what the Fed may do next.

* Global markets recovered some losses stemming from the Brexit vote last week, but weak economic data and worries over the fallout of the decision has brought back concerns.

* Major Asian and European indexes were trading lower. The British pound touched a new 31-year low, while China allowed the value of the yuan to touch a 5-1/2 year low.

* Oil extended losses for the third straight session as economic concerns and a strong dollar discouraged demand.

* Wall Street closed down lower on Tuesday as disappointing factory data and weak oil prices sent shivers through the markets.

* U.S. trade deficit likely increased to $40 billion in May from $37.4 billion in April due to higher oil prices. The data is expected at 8:30 a.m. ET.

* A report at 10:00 a.m. ET is expected to show the Institute for Supply Management's non-manufacturing index rose to 53.3 in June from 52.9 in May.

* Tesla's shares were down 2.3 percent at $209 in premarket trading amid continuing concerns about the electric car maker's self-driving technology after a fatality on May 7.

* Netflix fell 2.05 percent to $95.90 after Jefferies initiated coverage with an "underperform" rating and an $80 price target.

A trader works on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New York, U.S., July 5, 2016. REUTERS/Lucas Jackson

* Stocks of banks fell. Goldman Sachs and Citigroup were down a little more than 1 percent while Wells Fargo was off 0.6 percent.

Futures snapshot at 6:48 a.m. ET:

* Dow e-minis were down 104 points, or 0.59 percent, with 33,995 contracts changing hands.

* S&P 500 e-minis were down 13.5 points, or 0.65 percent, with 258,554 contracts traded.

* Nasdaq 100 e-minis were down 33 points, or 0.75 percent, on volume of 30,078 contracts.

(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Don Sebastian)

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