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Stock futures slightly higher than the figures of consumer spending

U.S. stock index futures were slightly higher on Friday, as investors awaited a large number of economic data, including on consumer spending, a key indicator for U.S. economy.

30.Jun.17 1:33 PM
By Daria Zaytseva


Stock futures slightly higher than the figures of consumer spending

The S&P 500 and the Dow industrials fell to its worst daily fall in about six weeks on Thursday, as the recent decline in the share of technology deepened and outweighed strength in shares of banks.

Tech, which led to an 8% increase in the S&P 500 this year, recently retreated, as some investors questioned high valuations of the sector.

Since mid-May, crude oil futures on Friday were on track for their highest weekly revenue, ending five weeks of losses with prices supported by the decrease in production in the United States. The euro came off yearly highs on Friday but was still set for its strongest quarter in six years as investors piled into the currency on a brightening euro zone economy and its implications for monetary policy in the bloc.

The U.S. Commerce Department will likely show growth of personal incomes by 0.3 percent, while consumer spending in May was estimated to have increased at a slower pace of 0.1 percent after 0.4 percent in April.

Nike shares were up 6 percent after the world's largest footwear maker said on Thursday it would launch a pilot program with Inc. to sell a limited range of products on its website.

Shares of Cara Therapeutics Inc. tumbled 29 percent after the biotech reported disappointing data on the treatment of pain from primary research.

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