March 2, 2017 / 12:38 PM / 5 months ago

US STOCKS-Futures flat as investors pause after record day on Wall St

3 Min Read

* Futures: Dow up 5 pts, S&P down 2.5 pts, Nasdaq down 0.75 pts

By Yashaswini Swamynathan

March 2 (Reuters) - U.S. stock index futures were little changed on Thursday as investors took a breather after sending Wall Street to its best day since the November presidential elections on renewed optimism about the economy.

* Wall Street's main indexes rallied on Wednesday and the Dow Jones Industrial Average sailed past the 21,000 mark, boosted by President Donald Trump's more measured tone in a speech to Congress and as bank stocks surged on increased possibility of an interest rate hike this month.

* An unusually large number of Federal Reserve officials have spoken this week, stoking the markets to price in higher chances of a rate hike when the central bank's policy-setting body meets on March 14-15. Fed Chair Janet Yellen is set to speak on Friday.

* The dollar index was up on Thursday after gaining the most in nearly eight weeks, a day after the generally dovish Fed Board Governor Lael Brainard said rates could be raised "soon".

* The odds for a move this month jumped to 74 percent, according to Thomson Reuters data. Before the influential New York Fed president William Dudley spoke on Tuesday, the chances were roughly 30 percent.

* Oil could dampen spirits on Thursday, with prices down 0.8 percent following a report that showed U.S. crude oil stocks hit an all-time high.

* Investors will also watch a report on jobless claims which likely edged down by 1,000 to 243,000 last week, pointing to continued strength in the labor market. The data is due at 8:30 a.m. ET (1330 GMT).

* The trading debut of Snap Inc, the owner of popular messaging app Snapchat, will also grab attention. Snap on Wednesday raised $3.4 billion in an initial public offering, giving the company a $24 billion valuation.

* Among stocks, JD.com rose 6 percent to $32.53 in premarket trading after the Chinese e-commerce company reported a 47 percent jump in fourth-quarter revenue.

* Monster Beverage jumped 12.2 percent to $47.13 following a quarterly revenue that beat analysts' average estimate.

* Kite Pharma slipped 4.5 percent to $76 on Citigroup's downgrade to "neutral" and the company's planned offering.

Futures snapshot at 6:55 a.m. ET:

* Dow e-minis were up 5 points, or 0.02 percent, with 22,237 contracts changing hands.

* S&P 500 e-minis were down 2.5 points, or 0.1 percent, with 122,836 contracts traded.

* Nasdaq 100 e-minis were down 0.75 points, or 0.01 percent, on volume of 17,726 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Sriraj Kalluvila)

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