Stock futures higher as Exxon, Chevron results awaited

[October 30, 2015]  By Abhiram Nandakumar

(Reuters) - U.S. stock index futures were slightly higher on Friday ahead of earnings reports from energy giants Exxon and Chevron and data on consumer spending.

* Global markets rose as central banks kept stimulus programs intact. U.S. stocks closed slightly lower on Thursday, weighed by interest-rate sensitive utilities stocks.

* Brent crude held firm at around $49 per barrel, despite worries about a supply glut. [O/R]

* U.S. consumer spending data, due at 8:30 a.m. ET, is forecast to have risen 0.2 percent in September from a 0.4 increase in August.

* Also scheduled is the University of Michigan's final index on consumer sentiment, which is expected to rise to 92.5 in October from 92.1 in September. The data is due at 10:00 a.m.

* While the Federal Reserve's comments on interest rates have been in investors' minds, the focus has largely been on quarterly earnings reports for a reading on the impact of the global economic slowdown on corporate health.

* Strong results from blue-chips have helped improve analyst sentiment, with profits at S&P 500 companies now expected to fall 1.7 percent, far less than the 4.9 percent drop forecast at the start of earnings season, according to Thomson Reuters data.

* Abbvie's shares were up 5.1 percent at $56.88 while CVS Health  fell 0.8 percent after results.

* LinkedIn's shares shot up 12.8 percent to $244.67 premarket after the company's quarterly results beat estimates.

* Valeant Pharmaceuticals was down 6.7 percent at $104.01 after it said it is cutting all ties with specialty pharmacy Philidor.

* Starbucks was down 1.5 percent at $61.55 after a disappointing profit forecast for the crucial holiday quarter.

* AB InBev's U.S.-listed shares were up 2.2 percent after the brewer gave positive view on revenue this year.

* The Fed's Board of Governors will hold an open meeting in Washington on policies regarding large banking organizations.

* San Francisco Fed President John Williams is slated to take part in a discussion on interest rates.

Futures snapshot at 7:06 a.m. ET:

* S&P 500 e-minis <ESc1> were up 2 points, or 0.1 percent, with 149,494 contracts traded.

* Nasdaq 100 e-minis <NQc1> were up 4 points, or 0.09 percent, on volume of 23,073 contracts.

* Dow e-minis <1YMc1> were up 12 points, or 0.07 percent, with 18,040 contracts changing hands.

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

[© 2015 Thomson Reuters. All rights reserved.]

Copyright 2015 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.