August 3, 2016 / 11:32 AM / 2 years ago

US STOCKS-Futures lower ahead of economic data

* Futures down: Dow 32 pts, S&P 4 pts, Nasdaq 9 pts

By Yashaswini Swamynathan

Aug 3 (Reuters) - U.S. stock index futures were lower ahead of a raft of corporate results and data, including a report on private-sector hiring.

* Futures were also pressured by U.S. crude prices, which remained below $40 per barrel amid oversupply fears.

* The ADP national employment report is expected to show that hiring in the private sector fell by 2,000 in July to 170,000 from the previous month. The report, which is seen as a precursor to the more comprehensive jobs data on Friday, is expected at 8:15 a.m. ET (1215 GMT).

* If the labor market is able to build on its recent strength, it could make the case for the Federal Reserve to raise interest rates later this year.

* A report from the Institute of Supply Management is likely to show that its non-manufacturing index slipped to 56.0 in July from 56.5 in June. The report is due at 10:00 a.m. ET.

* Wall Street edged lower on Tuesday after weak auto sales and disappointing economic data spurred worries about the growth of the U.S. economy.

* Investors are also parsing company earnings to gauge the health of the U.S. economy. Of the 353 S&P 500 companies that have reported earnings so far, 71 percent have beaten analysts’ estimates, according to Thomson Reuters I/B/E/S.

* Time Warner shares rose 1.7 percent after the company said it would become a 10 percent owner of streaming TV service Hulu and raised its full-year earnings forecast.

* Biogen fell nearly 2 percent to $324.50 in light premarket trading, after The Wall Street Journal reported that the biotech company had drawn takeover interest from drug companies including Merck and Allergan.

* Western Digital dropped 4 percent and was the top loser among S&P components after Goldman Sachs cut it to “sell” from “neutral”.

* Electronic Arts fell 2.5 percent after its sales forecast missed analysts’ estimates.

* Tesla and Twenty-First Century Fox are scheduled to report after the bell.

Futures snapshot at 6:52 a.m. ET:

* Dow e-minis were down 32 points, or 0.18 percent, with 19,078 contracts changing hands.

* S&P 500 e-minis were down 4 points, or 0.19 percent, with 148,451 contracts traded.

* Nasdaq 100 e-minis were down 9 points, or 0.19 percent, on volume of 18,841 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D’Silva)

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