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US STOCKS-Futures steady as tech wreck looks to ease – Nasdaq

Reuters


* Futures up: Dow 24 pts, S&P 3.25 pts, Nasdaq 9.5 pts

    By Yashaswini SwamynathanJune 16 (Reuters) - U.S. stock index futures edged up on
Friday as technology shares steadied after being repeatedly
slammed this week over concerns about stretched valuations.
    * Technology stocks, including those of Apple <AAPL.O>,
Microsoft <MSFT.O> and Facebook <FB.O>, were slightly higher in
premarket trading as investors likely hunted for bargains.
    * The S&P 500 technology sector, which had surged 17.4
percent in 2017, is on track for its biggest weekly decline
since June last year.
    * Oil prices were also seeing a rebound, rising about 0.6
percent on Friday after hitting their lowest this year amid
oversupply worries. [O/R]
    * Investors will keep a close watch on comments from Dallas
Federal Reserve President Robert Kaplan, who is the first Fed
member to speak after the central bank raised interest rates on
Wednesday. Kaplan is scheduled to speak in Dallas at 12:45 p.m.
ET (1645 GMT).
    * Economic data on tap includes the University of Michigan's
consumer sentiment survey report due at 10:00 a.m. ET.
    * Shares of Dow component Nike <NKE.N> were down about 1
percent after JPMorgan downgraded the stock to "neutral" from
"overweight".
    * Snapchat owner Snap Inc <SNAP.N> shares were up about 1.8
percent, a day after they fell below their initial public
offering price. [nL1N1JC15W]

    Futures snapshot at 7:04 a.m. ET:
    * Dow e-minis <1YMc1> were up 24 points, or 0.11 percent,
with 2,137 contracts changing hands.
    * S&P 500 e-minis <ESc1> were up 3.25 points, or 0.13
percent, with 26,217 contracts traded.
    * Nasdaq 100 e-minis <NQc1> were up 9.5 points, or 0.17
percent, on volume of 2,549 contracts.

 (Reporting by Yashaswini Swamynathan in Bengaluru; additional
reporting by Sruthi Shankar; Editing by Anil D'Silva)
 ((yashaswini.swamynathan@thomsonreuters.com; within U.S. +1 646
223 8780, outside U.S. +91 80 6749 2405; Reuters Messaging:
yashaswini.swamynathan.thomsonreuters.com@reuters.net))

Keywords: USA STOCKS/


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