May 30, 2017 / 11:22 AM / a year ago

US STOCKS-Futures little changed ahead of economic data

* Futures down: Dow 23 pts, S&P 3.5 pts, Nasdaq 3 pts

By Tanya Agrawal

May 30 (Reuters) - U.S. stock index futures were little changed on Tuesday, after the three-day holiday weekend, as investors awaited economic data for clues regarding the health of the economy.

* The S&P 500 and the Nasdaq Composite closed at record highs on Friday. The S&P 500 posted its seventh straight session of gains, matching a winning streak from February.

* While stocks are trading at record levels, helped by strong first-quarter corporate earnings, investors are looking for fresh catalysts to propel the market even higher.

* Investors will be keeping an eye on economic data to assess if weak first-quarter economic data was transitory. A second reading of the GDP on Friday showed the economy grew at a faster pace then previously estimated in the first three months of the year.

* Consumer spending is expected to have increased 0.4 percent in April after being unchanged in March. The data, released by the Commerce Department, is due at 8:30 a.m. ET (1230 GMT).

* The U.S. Conference Board is likely to report that its consumer confidence index was little changed in May.

* Another survey is expected to show that the S&P/Case-Shiller house price index rose 5.7 percent year-on-year in March after increasing 5.9 percent in February.

* European shares fell for the fourth day on Tuesday, as the prospect of early Italian elections and Greece’s ongoing struggles nudged up the political temperature gauge again.

* Oil prices were lower, pressured by concerns that production cuts by the world’s big exporters may not be enough to drain a global glut that has depressed the market for almost three years.

* U.S.-listed shares of Frontline were up 3.2 percent at $5.81 in premarket trading after reporting first-quarter results.

* Autozone was up 1.2 percent at $623 after Goldman Sachs raised its rating on the auto parts retailer to “buy”.

* Whiting Petroleum fell 3.5 percent to $7.69 as Goldman Sachs cuts its rating on the stock to “sell” from “neutral”.

Futures snapshot at 6:57 a.m. ET:

* Dow e-minis were down 23 points, or 0.11 percent, with 29,885 contracts changing hands.

* S&P 500 e-minis were down 3.5 points, or 0.15 percent, with 161,072 contracts traded.

* Nasdaq 100 e-minis were down 3 points, or 0.05 percent, on volume of 37,173 contracts. (Reporting by Tanya Agrawal; Editing by Saumyadeb Chakrabarty)

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