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US STOCKS-Futures edge lower after 7-day run; data on tap

Source : REUTERS
Last Updated: Thu, Sep 12, 2013 11:20 hrs

* Jobless claims, import-export data due

* Kerry in Geneva for talks with Russia on Syria

* Futures: Dow off 6 pts, S&P off 1.1 pts, Nasdaq up 1.5 pts

By Chuck Mikolajczak

NEW YORK, Sept 12 (Reuters) - U.S. stock index futures slipped on Thursday, indicating the S&P 500 may snap a seven-day winning streak ahead of labor market data that may influence investor opinion on the possibility the Federal Reserve may soon begin to trim its stimulus measures.

* Weekly initial jobless claims data is due at 8:30 a.m. (1230 GMT). Economists in a Reuters survey forecast a total of 330,000 new filings compared with 323,000 in the prior week.

* Employment is a key component of the central bank's planning for economic stimulus, known as quantitative easing, and claims data will be closely watched after the weaker-than-expected payrolls report last Friday.

* The Fed is set to hold a two-day policy meeting starting on September 17, where a decision for any changes to its stimulus, currently bond purchases of $85 billion a month, is expected to be made.

* Economists at a majority of U.S. primary dealers expect the Fed to announce it will cut its bond purchases, according to a recent Reuters poll.

* Also due at 8:30 a.m. (1230 GMT) are import-export prices for August. Economists in a Reuters survey forecast a 0.4 percent rise in import prices and a 0.1 percent increase in exports.

* S&P 500 futures fell 1.1 points and were slightly below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures shed 6 points, and Nasdaq 100 futures added 1.5 points.

* The S&P has risen 3.4 percent over the past seven sessions, its longest winning streak in two months, as concerns about a Western military strike against Syria have faded and on upbeat economic data out of China.

* The U.S. will insist Syria take rapid steps to show it is serious about abandoning its vast chemical arsenal, senior U.S. officials said, as Secretary of State John Kerry arrived in Geneva for talks with Russian Foreign Minister Sergei Lavrov.

* Facebook Inc shares rose 1.1 percent to $45.50 in premarket trade, a day after shares in the world's No. 1 social network hit an all-time high.

* S&P Dow Jones Indices announced late Wednesday that Vertex Pharmaceuticals Inc and Ametek Inc will replace Advanced Micro Devices Inc and SAIC Inc in the S&P 500 after the close of trading on Sept. 20.

* European shares edged towards five-year highs, buoyed by merger news in the telecom sector and more broadly supported by diplomatic initiatives over Syria.

* Asian shares surrendered earlier gains as a stronger yen and downbeat economic data helped push Japan's Nikkei stock average down 0.3 percent.




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