* Tiffany's up on 4th-qtr profit beat
* Adobe jumps on strong quarterly results
* Futures: Dow up 16 pts, S&P down 1 pt, Nasdaq up 2.5 pts
(Adds details, comments, updates prices)
By Anya George Tharakan
March 17 U.S. stocks looked set to open little
changed on Friday as investors sought fresh cues to place their
bets after the Federal Reserve raised interest rates for the
first time this year.
Finance ministers and central bank heads from the Group of
20 major economies meet in Germany for two days to discuss the
Members are likely to renounce competitive devaluations and
warn against exchange rate volatility, but have not yet found a
common stance on trade and protectionism, according to a draft
statement of their meeting.
"Today it appears as though we're going to have another day
like yesterday, where the market is looking for something
substantial to create the next move," said Andre Bakhos,
managing director at Janlyn Capital in Bernardsville, New
Investors are now turning their attention to economic data,
while also seeking clarity on President Donald Trump's proposed
policies such as tax cuts and looser regulations.
A report from the Federal Reserve is expected to show that
industrial production rebounded by 0.2 percent in February after
falling 0.3 percent the previous month. The data is due at 9:15
a.m. ET (1315 GMT).
Separately, a report from the University of Michigan is
expected to show the preliminary reading of the consumer
sentiment index rose to 97 in March from 95.7 in February. The
data is expected at 10:00 a.m. ET.
Dow e-minis were up 16 points, or 0.08 percent at
8:23 a.m. ET, with 1,936 contracts changing hands.
S&P 500 e-minis were down 1 point, or 0.04 percent,
with 25,037 contracts traded.
Nasdaq 100 e-minis were up 2.5 points, or 0.05
percent, on volume of 2,147 contracts.
Wall Street slipped on Thursday, pressured by healthcare
shares as traders cashed in gains from one of the best
performing sectors so far this year.
Tiffany's shares rose 3.5 percent to $93.10, after
the company posted a better-than-expected fourth-quarter profit,
boosted by strong demand for its high-end jewelry in Japan and
Valeant was up 4.4 percent at $11.69 in premarket
trading after ValueAct Capital raised its stake in the drug
Adobe was up 5.2 percent at $128.73 after the
company posted better-than-expected quarterly results, buoyed by
demand for its Creative Cloud package of software tools, which
(Reporting by Anya George Tharakan and Yashaswini Swamynathan
in Bengaluru; Editing by Anil D'Silva)