Stock futures little
changed as investors take a breather
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[July 01, 2016]
By Yashaswini Swamynathan
(Reuters) - U.S. stock index futures were little changed on Friday
as investors looked ahead to a long weekend after a tumultuous week.
* Global stocks went into a tailspin last Friday in the aftermath of
Britain's shock vote to leave the European Union, but recovered most
of those losses in the last three days.
* U.S. stock exchanges are closed on Monday for the U.S.
Independence Day holiday.
* Wall Street closed higher on Thursday after rallying on news that
the Bank of England could ease monetary policy.
* Oil prices fell about 0.7 percent on Friday as worries of
oversupply were reignited by a return in production from Nigeria and
Canada.
* Data showed growth in China's manufacturing sector stalled in
June.
* Investors are bracing for continued volatility in the markets as
they await the next steps of the Brexit action and are waiting for
second-quarter earnings to judge the health of U.S. equities.
* The Institute for Supply Management will release its national
factory activity index for June, which is expected to have risen
slightly to 51.4 from 51.3 in May, at 10 a.m. ET.
* Micron fell 9.7 percent to $12.43 in premarket trading after the
chipmaker said it would cut jobs and reported disappointing
quarterly sales and forecast. The stock was the biggest percentage
loser among S&P 500 companies.
* Tesla fell 2.9 percent after a fatal accident involving a Model S
car operating in autopilot mode prompted investigation by U.S.
federal highway safety regulators.
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Traders work on the floor of the New York Stock Exchange (NYSE) in
New York City, U.S., June 30, 2016. REUTERS/Brendan McDermid
* Qualcomm fell 2.2 percent after Evercore downgraded its shares to
"hold" from "buy".
Futures snapshot at 6:56 a.m. ET:
* Dow e-minis were down 15 points, or 0.08 percent, with 21,716
contracts changing hands.
* S&P 500 e-minis were down 2.5 points, or 0.12 percent, with
181,608 contracts traded.
* Nasdaq 100 e-minis were down 5.75 points, or 0.13 percent, on
volume of 15,746 contracts.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by
Saumyadeb Chakrabarty)
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