August 4, 2016 / 11:27 AM / 2 years ago

US STOCKS-Futures slightly higher after BoE cuts rates

* Futures: Dow up 29 pts, S&P up 3 pts, Nasdaq down 0.5 pts

By Yashaswini Swamynathan

Aug 4 (Reuters) - U.S. stock index futures were slightly higher after the Bank of England cut interest rates and ahead of economic data.

* The BoE lowered its main lending rate to a record-low of 0.25 percent from 0.5 percent and said it would buy 60 billion pounds of government debt to ease the blow from Britain’s vote to leave the European Union.

* Oil prices slipped after momentary relief on Wednesday as the focus shifted back to oversupply.

* A report is expected to show applications for unemployment benefits in the United States fell by 1,000 to 265,000 for the week ended July 30. The data is due at 8:30 a.m. ET (1230 GMT).

* The U.S. Commerce Department will release its report on manufacturing goods at 10:00 a.m. ET. The report is likely to show that new orders for factory goods fell 1.8 percent in June.

* A recent set of strong economic data, including Wednesday’s private sector hiring numbers, can strengthen the case for the Federal Reserve to raise interest rates. A lot hinges on the more comprehensive monthly jobs data, which is expected on Friday.

* However, traders do not expect a rate hike anytime this year, according to CME Group’s FedWatch tool.

* Wall Street closed slightly higher on Wednesday, helped by gains in energy and financial stocks.

* Viacom shares rose 1.1 percent premarket after the company reported better-than-expected quarterly revenue.

* Tesla fell 0.8 percent to $224 after the electric carmaker posted a steeper-than-expected loss, but said it was on track for future deliveries.

* Randgold’s U.S.-listed shares dropped 10.6 percent to $106.30 after it reported flat quarterly profit from its mining business and a drop in gold production.

* Sarepta Therapeutics rose 7.1 percent after Janney raised its price target by $5 to $30.

* LinkedIn which has agreed to be bought by Microsoft, and Kraft Heinz are scheduled to report after the bell.

Futures snapshot at 7:14 a.m. ET:

* Dow e-minis were up 29 points, or 0.16 percent, with 17,048 contracts changing hands.

* S&P 500 e-minis were up 3 points, or 0.14 percent, with 125,243 contracts traded.

* Nasdaq 100 e-minis were down 0.5 points, or 0.01 percent, on volume of 17,636 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D’Silva)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below