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 * The benchmark S&P index <.SPX> dropped more than 1 percent on
Wednesday and has shed 2.4 percent over the past three sessions,
it's worst run in two months, as weakness in oil prices has weighed
heavily on the energy <.SPNY> sector.
* Falling oil prices have added to worries about global demand and
raised concerns about earnings for energy companies, with year-end
tax selling putting additional pressure on the group. The sector is
down 14.7 percent for the year and is the worst performing of the 10
major S&P sectors.
* Brent crude <LCOc1> managed to climb back above the $65 mark but
remained near five-year lows while U.S. crude <CLc1> rose 1.1
percent to $61.60. [O/R]
* Investors await a trio of economic data reports at 8:30 a.m. EST,
including weekly initial jobless claims data, November retail sales
and import prices for November. Initial claims are expected to show
a reading of 295,000 while retail sales are expected to rise by 0.4
percent. Import prices are forecast to decline by 1.8 percent.
* The data may influence investors' expectations on whether the Fed
will adjust its language to keep interest rates near zero for a
"considerable time" when policymakers meet next week.
* Later in the session at 10:00 a.m., business inventories data for
October is expected.
* U.S.-listed shares of Teva Pharmaceutical <TEVA.N> edged down 0.7
percent to $56 in premarket trade after the generic drugmaker
forecast 2015 revenue below analysts' expectations.
* Lululemon Athletica <LULU.O> lost 4.2 percent to $44.75 in
premarket trading after the maker of yoga apparel posted quarterly
results.
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* Staples Inc <SPLS.O> jumped 11.4 percent to $16.50 and Office
Depot <ODP.O> climbed 8 percent to $7.26 before the opening bell
after Activist investor Starboard Value LP disclosed stakes in both
office-supply retailers in a move that could set up a potential
merger.
* Staples was the most active stock on Nasdaq before the bell, with
over 1.5 million shares traded, representing over 10 percent of its
10-day average. Volume of over 300 shares for Office Depot was about
4 percent of its 10-day average.
Futures snapshot at 8:02 a.m. EST:
* S&P 500 e-minis <ESc1> were up 6.25 points, or 0.31 percent, with
235,422 contracts changing hands.
* Nasdaq 100 e-minis <NQc1> were up 8 points, or 0.19 percent, in
volume of 45,801 contracts.
* Dow e-minis <1YMc1> were up 46 points, or 0.26 percent, with
39,741 contracts changing hands.
(Editing by Bernadette Baum)
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