US STOCKS-Futures slightly higher ahead of consumer spending data

* Futures slightly higher: Dow up 44 pts, S&P up 5.75 pts,
Nasdaq up 25 pts

By Ankur Banerjee

June 30 (Reuters) – U.S. stock index futures were slightly
higher on Friday, a day after Wall Street fell sharply, as
investors awaited a slew of economic data, including on consumer
spending, a key indicator for U.S. economy.

* The S&P 500 and the Dow industrials slipped to their worst
daily percentage drop in about six weeks on Thursday as a recent
decline in technology shares deepened and outweighed strength in
bank shares.

* Tech stocks, which have led the S&P 500’s 8-percent gain
this year, pulled back recently as some investors questioned the
sector’s high valuations.

* With the second quarter at an end, the market has
witnessed a few volatile days. On Wednesday, the tech-heavy
Nasdaq posted its best day since Nov. 7.

* Crude oil futures on Friday were on track for their
biggest weekly gain since mid-May, ending five weeks of losses
with prices underpinned by a decline in U.S. output.

* 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 is likely to show a 0.3
percent rise in personal income, while consumer spending for May
is estimated to have increased at a slower pace of 0.1 percent,
after a 0.4 percent jump in April. The data is due at 8:30 a.m.
ET (1230 GMT)

* The final reading of University Of Michigan Surveys Of
Consumers Sentiment for June is due at 10:00 a.m. ET (1400 GMT)

** 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 product
assortment on its website.

* Shares of Cara Therapeutics Inc plunged 29
percent after the biotech reported disappointing pain treatment
data from a key study.

Futures snapshot at 6:51 a.m. ET:

* Dow e-minis were up 44 points, or 0.21 percent,
with 29,538 contracts changing hands.

* S&P 500 e-minis were up 5.75 points, or 0.24
percent, with 168,737 contracts traded.

* Nasdaq 100 e-minis were up 25 points, or 0.44
percent, on volume of 44,593 contracts.

(Reporting by Ankur Banerjee in Bengaluru; Editing by Arun

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