* Futures: Dow up 35 pts, S&P up 2.25 pts, Nasdaq off 1.25
By Tanya Agrawal
May 15 U.S. stock index futures were slightly
higher on Monday as a rise in oil prices offset concerns over a
massive cyber attack that locked up 200,000 computers in more
than 150 countries.
* Oil hit a three-week high after top exporter Saudi Arabia
and Russia said supply cuts needed to last into 2018, a step
towards extending an OPEC-led deal to support prices for longer
than originally agreed.
* Shares of oil majors Exxon and Chevron
edged up 0.4 percent in premarket trading.
* Investors seemed to mostly shrug off fears from a
successful missile test by North Korea and a cyberattack that
disrupted operations at car factories, hospitals, shops and
* Shares of cybersecurity firms such as Fireye,
Symantec, Palo Alto Networks and Cyberark
Software were all up.
* Wall Street slipped on Friday, ending the week lower as
tepid economic data weighed on banks and worries deepened over
* Wall Street was gripped by risk-averse sentiment last week
after President Donald Trump unexpectedly fired the FBI chief,
the potential fallout from which could delay Trump's pro-growth
goals to cut taxes and boost spending on infrastructure.
* The new administration's agenda, which is seen favoring
the economy, has sent the S&P 500 soaring about 12 percent since
the election with the index trading at 17.6 times expected
earnings, higher than its 10-year average of 14.2.
* Soft retail sales and monthly inflation data on Friday
raised concerns about slow economic growth.
* The tepid economic data comes on the heels of a strong
quarterly earnings season where earnings at S&P 500 companies
are expected to grow 14.5 percent - their best showing since
2011, according to Thomson Reuters I/B/E/S.
* The NAHB Housing Market Index for May, is expected to
remain unchanged at 68 from the month before. The data is
expected at 10 a.m. ET (1400 GMT).
* Tesla was down 2.7 percent at $316 after Morgan
Stanley downgraded its rating on the electric-car maker's stock.
Futures snapshot at 7:04 a.m. ET:
* Dow e-minis were up 35 points, or 0.17 percent,
with 19,434 contracts changing hands.
* S&P 500 e-minis were up 2.25 points, or 0.09
percent, with 105,469 contracts traded.
* Nasdaq 100 e-minis were down 1.25 points, or 0.02
percent, on volume of 21,181 contracts.
(Reporting by Tanya Agrawal; Editing by Saumyadeb Chakrabarty)