Futures flat ahead of economic data

[March 17, 2017]  By Anya George Tharakan

(Reuters) - U.S. stock index futures were little changed on Friday as investors looked for fresh catalysts after the U.S. Federal Reserve raised interest rates for the first time this year.

Finance ministers and central bank heads from the Group of 20 major economies meet in Germany for two days to discuss the world economy.

Members are likely to renounce competitive devaluations and warn against exchange rate volatility, but have not yet found a common stance on trade and protectionism, according to a draft statement of their meeting.

Investors are now turning their attention to economic data, while seeking more clarity on President Donald Trump's proposed policies such as tax cuts and looser regulations.

A report from the Federal Reserve is expected to show that industrial production rebounded by 0.2 percent in February after falling 0.3 percent the previous month. The data is due at 9:15 a.m. ET (1315 GMT).

Wall Street slipped on Thursday, pressured by healthcare shares as traders cashed in gains from one of the best performing sectors so far this year.

Among stocks, Valeant  was up 4.5 percent at $11.70 in premarket trading after ValueAct Capital raised its stake in the drug company.

Tiffany's <TIF.N> shares rose 1.4 percent to $91.20, after the company posted its second straight rise in quarterly revenue, boosted by strong demand for its high-end jewelry in Japan and China.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 8, 2017. REUTERS/Brendan McDermid

Adobe shares were up 5.6 percent at $129.15 after the company posted better-than-expected quarterly results, buoyed by demand for its Creative Cloud package of software tools, which includes Photoshop.

Futures snapshot at 7:11 a.m. ET:

Dow e-minis were up 19 points, or 0.09 percent, with 1,785 contracts changing hands.

S&P 500 e-minis were up 0.25 points, or 0.01 percent, with 18,918 contracts traded.

Nasdaq 100 e-minis were up 5.25 points, or 0.1 percent, on volume of 2,001 contracts.

(Reporting by Anya George Tharakan and Yashaswini Swamynathan in Bengaluru; Editing by Anil D'Silva)

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