Stock futures fall on weak China trade data

[October 13, 2015] By Abhiram Nandakumar

(Reuters) - U.S. stock index futures were lower on Tuesday as weak Chinese trade data rekindled fears about the health of the global economy.

* Data showed Chinese imports fell 20 percent in September due to weak commodity prices and domestic demand, adding to worries about slowing economic growth at the world's second-largest economy.

* Crude oil prices fell after the International Energy Agency (IEA) said markets would remain oversupplied for at least another year. [O/R]

* Global stocks fell, ending their longest winning streak since February.

* U.S. stocks closed slightly higher on Monday as utilities stocks gained, more than offsetting a decline in energy stocks.

* Johnson & Johnson reports quarterly results before the bell, while JPMorgan and Intel report after the close.
 

* Fed Governor Lael Brainard said on Monday the central bank should wait for clear signs that the U.S. economic recovery could weather global financial turbulence before raising interest rates.

* Brainard's comments were in contrast to that of other Fed policymakers, including Fed Vice Chair Stanley Fischer, who have said they could support a rate increase in December.

* Investors are watching for clues on when the Fed will raise rates, which have been at near-zero levels since 2008.

* St Louis Fed President James Bullard and New York Fed President William Dudley are scheduled to speak at separate events later on Tuesday.

* Shares of Molson Coors rose 9.2 percent to $86 premarket after SABMiller agreed to be bought by AB Inbev for about $106 billion. The deal is likely to result in the disposal of SAB's 58 percent stake in its U.S. joint venture with Molson Coors.

* JetBlue fell 3.2 percent to $26 after JPMorgan cut its rating on the stock to "neutral." The brokerage forecast lower profit for the U.S. airline industry in 2017, citing higher fuel and labor costs. United Continental fell 1.4 percent.

* Johnson & Johnson rose 1.4 percent to $97.34 after it announced a $10 billion share repurchase program.

Futures snapshot at 6:50 a.m. ET:

* S&P 500 e-minis  were down 9 points, or 0.45 percent, with 136,536 contracts traded.

* Nasdaq 100 e-minis were down 24.5 points, or 0.56 percent, on volume of 20,653 contracts.

* Dow e-minis were down 65 points, or 0.38 percent, with 17,118 contracts changing hands.

(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Saumyadeb Chakrabarty)

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