US STOCKS-Futures edge lower with indexes near records
* Dow, S&P 500 coming off record closing highs
* Volume likely to be light in holiday week
* Crude oil rises, could support energy shares
* Futures down: Dow 40 pts, S&P 3.5 pts, Nasdaq 3.25 pts (Updates prices, adds biotech stocks)
By Ryan Vlastelica
NEW YORK, Dec 29 (Reuters) - U.S. stock index futures were slightly lower on Monday, as investors found few reasons to keep pushing shares higher following a sharp rally that has taken major indexes to repeated records.
The Dow has risen for seven straight sessions, the longest streak for the blue-chip index since March 2013, while the S&P 500 is up 5.9 percent over the past seven sessions, ending at its 52nd record close of the year on Friday.
The speed and scale of the rally could make further gains difficult to come by, especially in the final trading week of the year, when many market participants are out on holiday and there are few trading catalysts. Trading volume is expected to remain light, which could leave the market more susceptible to big swings.
Biotech stocks were among the biggest movers of the premarket session. Gilead Sciences rose 2.1 percent to $95.75 before the bell after Morgan Stanley upgraded the stock to "overweight" from "equal-weight." Juno Therapeutics rose 7.5 percent to $52.37 after the company, in an 8-K filing, authorized a stock buyback program of 495 million shares. Continuación...