US STOCKS-Futures dip a day after S&P rally; Disney weighs

miércoles 11 de mayo de 2016 07:35 GYT

* Futures down: Dow 45 pts, S&P 4 pts, Nasdaq 8 pts

By Tanya Agrawal

May 11 (Reuters) - U.S. stock index futures edged lower on Wednesday, a day after S&P 500 enjoyed its best day in two months and as Dow component Walt Disney reported a rare earnings miss.

* Disney shares were down 4.9 percent at $101.31 in premarket trading after the company's result missed expectations as advertising and subscriptions declined at ESPN.

* On Tuesday, the S&P 500 and Dow Jones notched their biggest daily percentage gain since March 11 and the Nasdaq its biggest since April 13, helped by a jump in oil and a rally in Amazon.

* Tuesday's gains appeared to breathe new life into a two-month rally that had petered out in mid-April and left the S&P 500 with an increase of just about 2 percent for 2016.

* Still, traders are struggling to find new catalysts to propel the market back towards record highs due to underwhelming first-quarter earnings and mixed economic data that provides little clarity on the path of Federal Reserve's rate-hike path.

* First-quarter earnings for S&P 500 companies have mostly beat analysts' expectations, but are still estimated to have fallen 5.4 percent from a year ago, according to Thomson Reuters data.

* Fossil slumped 32.5 percent to $27.05, set to open at a six-and-a-half year low after the watch retailer cut its 2016 forecast.   Continuación...