January 12, 2017 / 12:39 PM / in 2 years

US STOCKS-Futures fall as Trump speech disappoints

* Futures down: Dow 44 pts, S&P 6.5 pts, Nasdaq 13.75 pts

By Yashaswini Swamynathan

Jan 12 (Reuters) - U.S. stock index futures fell on Thursday after President-elect Donald Trump gave little clarity on his campaign-trail promises of boosting economic growth that had powered Wall Street for two months.

* Trump, in his first news conference on Wednesday, gave no details on tax cuts or infrastructure spending, and instead lashed out at U.S. spy agencies and news agencies over what he called a ‘phony’ Russia dossier.

* He also blasted pharmaceutical companies over high drug prices, causing health stocks to snap a six-day winning streak and a wobble in Wall Street.

* However, a rise in energy and technology stocks helped the market close higher on Wednesday, with the Nasdaq ending at a record high for the fourth session in a row.

* But, Trump’s comments hit the dollar, which fell to its lowest level in nearly one month on Thursday. Prices of safe-haven gold rose to their highest since late November.

* With Trump’s comments at the back of their minds, investor will turn their focus to the earnings season, which will kick off in earnest on Friday when a trio of big banks report.

* Merck, one of the few health stocks that avoided the carnage in the sector on Wednesday, gained 1.6 percent to $62.60 premarket after multiple broker upgrades.

* Apple was off 0.65 percent at $118.97.

* Tesaro slipped about 3 percent to $141 in thin trading after the FDA rejected its drug, Rolapitant IV.

* In economic data, a report is expected to show weekly jobless claims rose to 255,000 last week from 235,000 a week earlier. The data is due at 8:30 a.m. ET (1330 GMT).

Futures snapshot at 7:01 a.m. ET:

* Dow e-minis were down 44 points, or 0.22 percent, with 18,157 contracts changing hands.

* S&P 500 e-minis were down 6.5 points, or 0.29 percent, with 106,904 contracts traded.

* Nasdaq 100 e-minis were down 13.75 points, or 0.27 percent, on volume of 19,565 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Savio D’Souza)

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