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US STOCKS-Futures flat after S&P, Nasdaq close at record levels
May 16, 2017 / 11:26 AM / 7 months ago

US STOCKS-Futures flat after S&P, Nasdaq close at record levels

* Futures up: Dow 27 pts, S&P 1 pt, Nasdaq 4.5 pts

By Yashaswini Swamynathan

May 16 (Reuters) - U.S. stock index futures were little changed on Tuesday as investors paused for a breather a day after the S&P 500 and the Nasdaq Composite closed at record highs.

* As the first-quarter earnings season wraps up, investors will turn their attention to political developments that could hamper President Donald Trump’s pursuit of pro-growth policies.

* Investors may refrain from making big bets in riskier assets like stocks following reports that Trump disclosed highly classified information to Russia’s foreign minister about a planned Islamic State operation.

* The dollar index - which measures the greenback against six other major currencies - was down 0.4 percent, while prices of safe-haven gold rose.

* The U.S. Federal Reserve will release data on industrial production, which is expected to have slowed to 0.4 percent in April from 0.5 percent the month before. The data is scheduled for 9:15 a.m. ET (1315 GMT). Also due is a report on housing starts from the Commerce Department.

* Wall Street closed higher on Monday with gains in technology, energy and financial stocks powering the S&P and the Nasdaq to close at record levels.

* Oil prices edged up about 0.2 percent, prompted by the dollar’s decline and the expectation for a supply limit deal to extend into next year.

* Dow component Home Depot’s shares rose 1.7 percent to $160 premarket after the biggest U.S. home improvement store chain reported a better-than-expected quarterly profit. Rival Lowe’s shares were up 0.9 percent.

* Akebia Therapeutics was up nearly 17 percent at $15.05 after the drug developer entered into an agreement with Vifor Pharma Group, which also made a $50 million equity investment in the company.

Futures snapshot at 7:05 a.m. ET:

* Dow e-minis were up 27 points, or 0.13 percent, with 13,318 contracts changing hands.

* S&P 500 e-minis were up 1 point, or 0.04 percent, with 91,249 contracts traded.

* Nasdaq 100 e-minis were up 4.5 points, or 0.08 percent, on volume of 15,798 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Saumyadeb Chakrabarty)

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