* Fed minutes show policymakers in no rush to raise rates
* Tesla shares down after Barclays cut rating on stock
* Futures up: Dow 48 pts, S&P 5.5 pts, Nasdaq 9.25 pts (Adds details, comments, updates prices)
By Abhiram Nandakumar
Oct 9 (Reuters) - Wall Street was set to open slightly higher on Friday, a day after the S&P 500 closed at a seven-week high as investors bet the Federal Reserve would keep rates at near-zero levels until at least next year.
The minutes of the Fed’s September meeting, released on Thursday, indicated further signs of dovishness, with policymakers concerned about a global economic slowdown weighing on America, even before weak September jobs data.
“It was more a case of an abundance of caution rather than worry,” said Brad McMillan, chief investment officer for Commonwealth Financial Network.
“They are actually pretty comfortable with the U.S. economy. They don’t see anything to worry about, which is a remarkable thing to say,” McMillan said. He expects the stock market to finish the week on a high note.
U.S. stocks closed higher on Thursday, while global stocks rallied on Friday after the Fed minutes. Brent crude oil was on track for its biggest weekly rise since March 2009, while the dollar fell.
U.S. import prices declined a smaller-than-expected 0.1 percent in September, Labor Department data showed. Fed Chair Janet Yellen has said import prices have been a major factor in keeping inflation below the Fed’s 2 percent target.
At 8:24 a.m. ET, S&P 500 e-minis were up 5.5 points, or 0.27 percent, with 181,064 contracts traded. The S&P 500 is already on track for its best week in this year.
Nasdaq 100 e-minis were up 9.25 points, or 0.21 percent, on volume of 30,812 contracts and Dow e-minis were up 48 points, or 0.28 percent, with 27,276 contracts changing hands.
Investors will now turn their attention to U.S. corporate results over the next few weeks.
Profits of S&P 500 companies are expected to have fallen 4.5 percent in the third quarter, the biggest drop in six years, according to Thomson Reuters data.
Alcoa’s shares were down 3.3 percent at $10.65 premarket after it reported disappointing results.
Prices of aluminum, zinc, lead and copper soared after Glencore said it would slash its zinc output by a third, sparking a short covering rally across the board.
Freeport-McMoRan was up 4.4 percent, while Newmont Mining rose 3.6 percent and were the biggest gainers on the S&P 500 premarket.
Dow components Exxon and Chevron were up about 1 percent as oil prices rose.
Tesla fell 3 percent to $220.0 after Barclays cut its rating on the electric car maker’s stock to “underweight”.
Gap fell 6.6 percent to $27.05 after reporting a bigger-than-expected fall in September same-store sales.
UTi Worldwide surged 47.2 percent to $6.95 after Danish logistics group DSV said it would buy the company for $1.35 billion. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Savio D‘Souza)