April 29, 2016 / 11:37 AM / 2 years ago

US STOCKS-Futures little changed as oil prices hit new 2016 high

* Futures down: Dow 12 pts, S&P 2.75 pts, Nasdaq 12 pts

By Aastha Agnihotri

April 29 (Reuters) - Nasdaq futures were lower on Friday, weighed down by a fall in tech stocks, while S&P and Dow futures were little changed as a jump in oil prices helped limit losses.

* Oil hit new highs this year on Wednesday and was poised for its biggest monthly gain in seven years as a weak dollar and falling U.S. production tempered concerns about a lingering excess of physical oil.

* Stock markets around the world were in the red - with the yen rallying to an 18-month high, signaling a broader risk aversion among investors - a day after the Bank of Japan’s shocking call to cap monetary stimulus rattled investors.

* Investors will keep an eye on U.S. inflation data, which is expected to have risen modestly in March as consumer spending remained tepid, raising the possibility of a single interest rate hike this year.

* Economists polled by Reuters expect two increases this year but futures prices show traders do not expect rates to rise until late 2016, according to CME Group’s FedWatch.

* Data is expected to show Consumer spending probably edged up 0.2 percent in March after a 0.1 percent gain in February. The data is expected at 8:30 a.m. ET (1230 GMT).

* Shares of Amazon jumped 12.3 percent to $676.24 in premarket trading after its quarterly results blew past analysts’ expectations.

* First-quarter earnings from S&P 500 components are expected to have fallen 7.1 percent from a year earlier, according to Thomson Reuters I/B/E/S. Of the 166 companies that have reported, 59 percent reported revenue above analyst expectations, just short of the average 60 percent since 2002.

* Oil majors Exxon and Chevron are scheduled to report first-quarter results.

* LinkedIn was up 7.4 percent at $132.10 after the operator of the world’s largest online network for professionals raised its 2016 revenue and profit forecast.

* Gilead Sciences fell 4.6 percent to $92.48 as its first-quarter net profit fell 18 percent.

* TiVo rose 4.5 percent to $9.85 after digital entertainment guide provider Rovi said it will buy the company in a deal valued at about $1.1 billion.

Futures snapshot at 7:20 a.m. ET:

* S&P 500 e-minis were down 2.75 points, or 0.13 percent, with 171,256 contracts traded.

* Nasdaq 100 e-minis were down 12 points, or 0.27 percent, on volume of 26,544 contracts.

* Dow e-minis were down 12 points, or 0.07 percent, with 20,958 contracts changing hands. (Reporting by Aastha Agnihotri in Bengaluru)

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