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 * U.S. stocks fell on Friday as a decline in oil prices added to
pressure from consumer companies after gloomy quarterly reports from
retailers overshadowed upbeat April retail sales data.
* Data from China over the weekend was also tepid. April's retail
sales, factory output and fixed-asset investment all fell short of
forecasts by economists polled by Reuters.
* However, oil prices jumped over 2 percent to their highest since
October 2015 on growing Nigerian oil output disruptions and after
long-time bear Goldman Sachs said the market had ended almost two
years of oversupply and flipped to a deficit. [O/R]
* Investors will also be keeping an eye on data scheduled to be
released today. U.S. homebuilder sentiment likely rose a bit in May
from April. NAHB Housing Market index is expected to have increased
to 59 from 58 in April. The data is expected at 10 a.m. ET (1400
GMT).
* Manufacturing activity in New York State is expected to have
dropped to 6.50 in May from 9.56 in April. The report is due at 8:30
a.m. ET,
* Investors have been keeping a sharp eye on data for clues
regarding the path of interest rate increases. While some Federal
Reserve officials have hinted at two rate hikes this year, traders
are pricing in only one at the end of the year.
* While the S&P 500 has risen about 15 percent since February lows,
that rally had fizzled out in the last few weeks due to
disappointing corporate earnings and mixed economic data.
* For every company that has given an upbeat forecast for the
current quarter, more than two have warned of disappointing
earnings, according to Thomson Reuters I/B/E/S.
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* Yahoo shares were up 3.2 percent at $37.65 in premarket trading after a
Reuters report that billionaire investor Warren Buffett is backing a consortium
of investors to buy the search engine company's Internet assets.
* Tribune Publishing was up 26.6 percent at $14.52 after Gannett raised its
buyout offer to $15 per share.
* Anacor Pharmaceuticals jumped 53.4 percent to $98.35 after Pfizer said it
would buy the drugmaker in a deal valued at $5.2 billion. Pfizer was down 0.3
percent at $33.10.
Futures snapshot at 7:13 a.m. ET:
* S&P 500 e-minis were up 1.25 points, or 0.06 percent, with 130,460 contracts
traded.
* Nasdaq 100 e-minis were down 0.5 points, or 0.01 percent, on volume of 18,267
contracts.
* Dow e-minis were up 2 points, or 0.01 percent, with 21,806 contracts changing
hands.
(Reporting by Tanya Agrawal and Yashaswini Swamynathan; Editing by Anil D'Silva)
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