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*
Oil held above $50 for the second consecutive day on supply
disruptions in Nigeria and data pointing at strong demand from
China. [O/R]
* The Dow and the S&P closed higher on Tuesday, with the S&P
about 23 points below its record high, led by gains in energy
stocks. However, a slump in biotech stocks weighed on the Nasdaq.
* The S&P has risen 3.3 percent since the start of the year and
investors are on the lookout for new catalysts to drive it
beyond the record high it touched in May 2015.
* Investors have all but priced out an interest rate hike when
Federal Reserve officials meet on June 14-15, after surprisingly
weak monthly jobs data.
* Data from China showed imports fell less-than-expected in May,
pointing to improving domestic demand and boosting confidence
that the world's second-largest economy was stabilizing.
* Lululemon <LULU.O> was down 2.8 percent at $66.20 premarket
after the yoga-wear retailer reported a 5 percent fall in
quarterly profit.
* Verifone <PAY.N> slumped nearly 31 percent to $19.60 after the
credit card swipe machine maker reported lower-than-expected
second-quarter earnings and said it would cut jobs.
Futures snapshot at 7:12 a.m. ET:
* Dow e-minis were up 25 points, or 0.14 percent, with 12,570
contracts changing hands.
* S&P 500 e-minis were up 2.75 points, or 0.13 percent,
with 102,361 contracts traded.
* Nasdaq 100 e-minis were up 3.5 points, or 0.08 percent, on
volume of 10,423 contracts.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by
Savio D'Souza)
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