April 15, 2016 / 11:32 AM / 2 years ago

US STOCKS-Futures slip as investors focus on oil, earnings

* Futures down: Dow 27 pts, S&P 4.25 pts, Nasdaq 10.5 pts

By Yashaswini Swamynathan

April 15 (Reuters) - U.S. stock index futures were lower on Friday as investors await the outcome of a meeting of major oil producing countries to tackle a persistent global oversupply.

* Crude was down nearly 2 percent ahead of Sunday’s meeting in Doha, where producers will discuss a production freeze.

* Global stocks reacted positively to Chinese data, which showed that the country’s gross domestic product grew 6.7 percent in the first quarter, another sign that the world’s second-largest economy was on the mend.

* U.S. big-bank earnings continue with Citigroup set to report before the bell.

* Investors will focus on earnings, while keeping a watchful eye on global economic conditions and monetary policies.

* Wall Street closed nearly flat on Thursday, with the S&P 500 closing at its highest since early December.

* A surge in oil and signs that the U.S. economy was recovering has helped the S&P 500 recoup early losses. The index is up nearly 2 percent for the year and is just over 51 points shy of its all-time high.

* Investors will also watch for comments on the global economy from finance ministers and central bankers at the three-day Spring Meetings in Washington held by the International Monetary Fund and the World Bank.

* Data on Friday is expected to show U.S. industrial production slipped 0.1 percent in March, following a 0.5 percent drop in February. The report is due at 09:15 a.m. ET (1315 GMT).

* Shares of Polycom were up 8.8 percent at $12.95 in premarket trading after Canadian telecom services provider Mitel agreed to acquire the company for $1.96 billion.

* Shares of 3D Systems were down 5.1 percent at $17.34 after a trader said Citigroup cut its rating on the stock.

Futures snapshot at 7:00 a.m. EDT:

* Dow e-minis were down 27 points, or 0.15 percent, with 13,168 contracts changing hands.

* S&P 500 e-minis were down 4.25 points, or 0.2 percent, with 114,452 contracts traded.

* Nasdaq 100 e-minis were down 10.25 points, or 0.23 percent, on 11,314 contracts. (Reporting by Yashaswini Swamynathan and Abhiram Nandakumar in Bengaluru; Editing by Anil D’Silva)

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