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US STOCKS-Futures lower on Deutsche Bank concerns
September 30, 2016 / 11:36 AM / a year ago

US STOCKS-Futures lower on Deutsche Bank concerns

* Futures down: Dow 14 pts, S&P 1 pt, Nasdaq 5 pts

By Yashaswini Swamynathan

Sept 30 (Reuters) - U.S. stock index futures were slightly lower on Friday as fresh worries about Deutsche Bank’s woes unsettled investors.

* The largest German lender’s stock fell to a record low on Friday on news that a number of hedge funds had pulled out collateral as the bank faces a $14 billion demand from U.S. authorities for misselling mortgage-backed securities.

* U.S. stocks fell sharply on Thursday amid choppy trading as banks took a beating due to declines in Deutsche Bank and Wells Fargo, whose chief executive was rebuked by lawmakers over his handling of sales abuses.

* Citigroup was down 0.66 percent premarket, while U.S.-listed shares of RBS fell by a similar margin. Stocks of other big U.S. banks were little changed.

* Oil prices fell 1.7 percent as investors cashed in on a two-day rally after OPEC members agreed to curb output to stabilize an over-supplied market.

* The markets are due for increased volatility as the third-quarter earnings season approaches and as uncertainty brews over the outcome of the U.S. presidential election in November.

* A report at 8:30 a.m. ET (1230 GMT) is expected to show core personal consumption expenditure, the Federal Reserve’s preferred inflation measure, rose 0.2 percent in August.

* At 10:00 a.m. ET, investors will get the final reading on the University of Michigan’s consumer sentiment index, which is expected to have edged up to 90 this month from 89.8 the previous month.

* Dallas Fed president Robert Kaplan is scheduled to speak at an event at 1:00 p.m. ET.

* CalAmp was down 17.7 percent after the wireless device maker reported quarterly revenue that missed analysts’ estimates.

* Extended Stay America was down 3.7 percent after the company priced a secondary offering below the Thursday closing price of its stock.

Futures snapshot at 7:34 a.m. ET:

* Dow e-minis were down 14 points, or 0.08 percent, with 33,597 contracts changing hands.

* S&P 500 e-minis were down 1 points, or 0.05 percent, with 221,287 contracts traded.

* Nasdaq 100 e-minis were down 5 points, or 0.1 percent, on volume of 33,360 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D‘Silva)

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