Futures tread lower as
oil prices continue retreat
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[June 10, 2016]
By Yashaswini Swamynathan
(Reuters) - U.S. stock index futures
were lower on Friday as oil prices, which rallied to their year high
earlier in the week, retreated for the second straight day.
* Despite higher demand, oil eased as traders booked profits after a
three-day winning streak that started Monday, and as the dollar
* Wall Street ended lower on Thursday, with the S&P 500 and the Dow
also snapping a three-day rally as lower oil prices wiped the sheen
off materials and energy stocks and looming fears over global growth
sent investors scurrying to safe haven assets.
* Global issues, including uncertainty over interest rate hikes and
the impending vote on Britain's membership in the European Union,
have kept investors cautious.
* Even with the reversal in major indexes on Thursday, the S&P 500
is still just 17 points away from its record intraday high, rallying
after Federal Reserve Chair Janet Yellen expressed confidence in the
economy, and was more dovish on raising interest rates.
* All three major indexes are on track to finish the week higher.
* Among economic data on tap for the day is preliminary consumer
sentiment index in the United States, which is expected to come in
at 94.0 in June, compared to 94.7 last month. The data is scheduled
for release at 10:00 a.m. ET.
* Apple was down 0.7 percent premarket after the company announced the
revamp of its App Store, which failed to impress developers and analysts.
* Tesla fell 1.5 percent to $225.80 after the NHTSA said it was reviewing the
car maker's sedans for safety defects.
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Traders work on the floor of the New York Stock Exchange in New
York, U.S., June 1, 2016. REUTERS/Lucas Jackson
Futures snapshot at 7:15 a.m. ET:
* Dow e-minis <1YMc1> were down 76 points, or 0.42 percent, with 14,498
contracts changing hands.
* S&P 500 e-minis were down 11 points, or 0.52 percent, with 125,858 contracts
* Nasdaq 100 e-minis were down 27.5 points, or 0.61 percent, on volume of
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Savio D'Souza)
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