Futures flat as investors seek fresh catalysts

[February 06, 2017]  By Tanya Agrawal

(Reuters) - U.S. stock index futures were little changed on Monday as investors looked for fresh trading catalysts after a strong jobs report last week. U.S. stocks climbed on Friday, with the S&P 500 closing just short of a record high, boosted by gains in financial shares as President Donald Trump moved ahead with deregulation action and a strong payrolls report.

The U.S. public and private sectors created 227,000 jobs last month, a report released on Friday showed, far more than the 175,000 economists had expected. However, the average hourly wages grew only 0.1 percent, which may keep the Federal Reserve on a gradual path of interest rate hikes. Still, investors are wary about Trump's focus on isolationist policies such as travel restrictions to the United States.

A federal judge on Friday blocked a travel ban on seven mainly Muslim nations.

Fourth-quarter earnings for S&P 500 companies are expected to grow 8 percent - their strongest performance in nine quarters.

There is little in the way of economic news or corporate earnings on Monday for investors to focus on that might move the market higher.

Oil steadied close to $57 barrel as rising tensions between the United States and Iran and OPEC supply cuts were countered by ample inventories and signs that higher prices will revive U.S. output. [O/R]

Federal Reserve Bank of Philadelphia President Patrick Harker will speak in San Diego at 4:30 p.m. ET (2130 GMT).

Traders work on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New York, U.S., January 31, 2017. REUTERS/Lucas Jackson

Tiffany fell 6.8 percent to $75 in premarket trading as the upscale jeweler said its CEO has stepped down after what the company called disappointing financial results.

Hasbro rose 4.1 percent to $86 after the toymaker reported a rise in quarterly profit.

Chipotle Mexican Grill was down 1.1 percent at $399.73 after Barron's said the burrito chain's stock could fall as much as 35 percent in the next year.

Dow e-minis were up 3 points, or 0.02 percent, with 20,151 contracts changing hands.

S&P 500 e-minis remained unchanged, with 95,175 contracts traded.

Nasdaq 100 e-minis were down 1.5 points, or 0.03 percent, on volume of 15,477 contracts.

(Reporting by Tanya Agrawal; Editing by Anil D'Silva)

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