* Futures off: Dow 22 pts, S&P 4 pts, Nasdaq 10 pts
By Tanya Agrawal
May 5 (Reuters) - U.S. stock index futures were lower on Tuesday ahead of another round of earnings reports and the release of key data that will show if economic growth is gaining pace after slowing in the first quarter.
* U.S. service sector activity is expected to have grown at a steady clip in April, but an expected widening of the nation’s trade deficit in March on the back of a stronger dollar would serve as a reminder of the headwinds still facing the economy.
* The services gauge data is expected at 10 a.m. EDT (1400 GMT) and trade numbers at 8:30 a.m. EDT (1230 GMT).
* The latest batch of economic data comes a day after Chicago Fed President Charles Evans said rate hikes could begin this year without harming the recovery.
* Wall Street ended higher on Monday as corporate earnings came in better than feared.
* Of the S&P companies that have reported results so far, 68.1 percent have reported earnings above analysts’ estimates, above the 63 percent that typically beat in a quarter. However, only 44.4 percent have beaten on revenue, below the typical 61 percent.
* Dow component Disney inched up 0.6 percent to $11.70 in premarket trading ahead of its results. News Corp and Groupon are scheduled to report after the close.
* Netflix was up 2.6 percent at $569.50 after BofA Merrill Lynch upgraded the stock to “buy”, according to Theflyonthewall.com.
* AcelRx Pharmaceuticals slumped 28.6 percent to $3 after the FDA rejected a meeting request to discuss the need for additional trial of its pain drug device.
Futures snapshot at 7:10 a.m. EDT (1110 GMT)
* S&P 500 e-minis were down 3.75 points, or 0.18 percent, with 84,725 contracts traded.
* Nasdaq 100 e-minis were down 10.25 points, or 0.23 percent, in volume of 15,547 contracts.
* Dow e-minis were down 22 points, or 0.12 percent, with 18,341 contracts changing hands. (Reporting by Tanya Agrawal; Editing by Savio D‘Souza)