* Dow, S&P set to close week down after 3 weeks of gains
* Intel rallies in premarket, lifts revenue outlook
* Oil prices remain in focus as Iraq violence continues
* Futures down: Dow 29 pts, S&P 2.9 pts, Nasdaq 3.25 pts
By Ryan Vlastelica
NEW YORK, June 13 (Reuters) - U.S. stock index futures were
little changed on Friday, though recent weakness was enough to
put the Dow and S&P 500 on track for their first weekly decline
after three consecutive weeks of gains.
* While both the Dow and S&P hit a series of record highs
this week, Wall Street has lately been pressured by concerns of
slowing global growth and ongoing violence in Iraq, which has
taken oil prices to their highest since September.
* The S&P has fallen for three straight days, its longest
streak of declines since early April. However, it has dropped
just 1.1 percent over that period, and many view the market's
recent trend upward as intact.
* Technology shares will be in focus a day after Intel Corp
raised its full-year revenue outlook, citing
stronger-than-expected demand for personal computers used by
businesses. Shares of the Dow component rose 4.7 percent to
$29.27 in premarket trading.
* Another positive catalyst may come at 9:55 a.m. EDT (1355
GMT), with the preliminary read on June consumer sentiment from
the Thomson Reuters/University of Michigan Surveys of Consumers.
The index is seen rising to 83 from 81.9 in the previous report.
* S&P 500 futures fell 2.9 points and were 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 fell 29
points and Nasdaq 100 futures slid 3.25 points.
* For the week, the Dow is down 1.1 percent, the S&P is down
1 percent, and the Nasdaq is down 0.6 percent. The Dow and S&P
have risen for three straight weeks; Nasdaq has risen for four.
* The CBOE Volatility index is up 10.2 percent on the
week, its first weekly rise following eight weeks of declines.
Despite the spike, the so-called 'fear index' remains well below
its historical average.
* Crude prices will continue to be in focus, rising 0.6
percent to $107.12 per barrel on Friday. While the price of oil
has spiked 2.6 percent over the past three days, most analysts
said it would need to be sharply above $115 per barrel for a
protracted period before it becomes a major headwind to economic
growth. Still, energy companies may attract more action as
* In Iraq, Islamist rebel fighters captured two more Iraqi
towns overnight as they moved towards Baghdad. U.S. President
Barack Obama responded by threatening military strikes, adding
to the market's geopolitical concern; selling accelerated on
Thursday after his comments.
* In company news, Tesla Motors Inc late Thursday
said it would allow others to use its intellectual property in
the hopes of speeding up development of electric cars by all
manufacturers. Shares rose 0.7 percent to $205 before the bell.
* Finisar Corp plunged 22 percent to $19.75 in
premarket trading a day after forecasting weaker-than-expected
earnings, citing higher capital expenditure in China.
(Editing by Bernadette Baum)