US STOCKS-Futures down after talks on oil output freeze collapse

lunes 18 de abril de 2016 07:19 GYT

* Futures down: Dow 45 pts, S&P 6.75 pts, Nasdaq 12.75 pts

By Abhiram Nandakumar

April 18 (Reuters) - U.S. stock index futures were lower on Monday as crude prices slipped after a much anticipated meeting of oil producers failed to result in a deal to freeze production.

* Crude was down more than 3 percent after the failed talks in Doha renewed fears of an escalating battle for market share among the major producing countries and add to the stubborn global surplus.

* Shares of Chevron were down 1.8 percent in premarket trading, while Exxon shed 1.6 percent.

* Global stocks fell, while gold edged up, as investors avoided risky bets. Japan's stock market tumbled after a series of massive earthquakes over the weekend.

* Adding to the dour start to the week was data that showed China's economy grew at a slower-than-expected pace in the first quarter - another sign that the world's second largest economy was still struggling.

* While macroeconomic and geopolitical factors continue to weigh on markets, focus now turns to U.S. earnings reports as investors look for the impact of the global turmoil on financial markets and the slump in commodity prices on balance sheets.

* Morgan Stanley jumped 1.9 percent to $26.25 after the Wall Street bank's quarterly profit beat estimates.   Continuación...