US STOCKS-Futures little changed as investors await earnings

viernes 29 de julio de 2016 07:15 GYT

* Futures down: Dow 29 pts, S&P 3.25 pts, Nasdaq 0.75 pts

By Yashaswini Swamynathan

July 29 (Reuters) - U.S. stock index futures were little changed on Friday as investors braced for another set of corporate earnings and economic data to assess the health of the economy.

* However, futures were pressured by a 1 percent fall in oil prices, with Brent crude touching the $40 mark over worries of oversupply.

* Google parent Alphabet's shares surged 3.6 percent to $792.99 after the company's second-quarter earnings handily beat analysts' estimates. The stock was the top percentage gainer among S&P 500 components in premarket trading.

* Earnings for companies listed on the benchmark index are now expected to fall 2.8 percent in the latest quarter, compared with the 5 percent estimated at the start of the earnings season, according to Thomson Reuters I/B/E/S.

* Investors are now waiting for earnings, including those of oil majors Exxon and Chevron.

* Wall Street managed to eke some gains at the close on Thursday, after strong earnings from Alphabet and helped lift spirits that were dampened after Ford's abysmal numbers and forecast. was up 1.5 percent at $764.

* Investors are also keeping an eye on a U.S. Commerce Department report, which is expected to show that gross domestic product grew at a 2.6 percent rate in the second quarter, compared with a 1.1 percent rise in the first. The report is due at 8:30 a.m. ET (1230 GMT).   Continuación...