* Cisco jumps after earnings, outlook
* Wal-Mart slips after earnings miss
* CPI, housing starts, jobless claims data on tap
* Futures: Dow up 5 pts, S&P up 0.6 pt, Nasdaq up 5.75 pts
By Chuck Mikolajczak
NEW YORK, May 16 (Reuters) - U.S. stock index futures were
little changed on Thursday, indicating the S&P 500 may remain
near its newest record high ahead of data on the housing and
The Dow and S&P 500 hit all-time highs in the
prior session in a broad market rally as the recent upward
Investors will eye a flurry of data at 8:30 a.m. (1230 GMT),
including the April consumer price index, weekly initial jobless
claims and housing starts for April.
Data showing a modestly growing economy has increased
investor confidence the Federal Reserve will keep stimulus
measures in place, helping push yearly gains for both the Dow
and S&P 500 indexes to more than 16 percent.
Wal-Mart Stores Inc, the world's largest retailer
and a barometer of consumer spending, fell 2.5 percent to $77.86
in premarket trade after posting a quarterly profit that missed
Wall Street expectations, with sales down 1.4 percent at U.S.
stores open at least a year.
"We are in the eternal, ever rising stock market for no good
reason. This is the trend," said Kim Forrest, senior equity
research analyst at Fort Pitt Capital Group in Pittsburgh.
"If everybody is looking to the Fed to be the reason to buy,
it's a little nerve-racking - the overall tone of the market
when compared with the real economy continues to be a little
Economists in a Reuters survey expect a 0.2 percent drop in
CPI, matching the decrease in March, while initial jobless
claims are forecast to show a total of 330,000 new filings
compared with 323,000 in the prior week.
Housing starts are expected to show a 973,000 annualized
rate in April versus 1,036,000 in March, with a total of 945,000
permits expected in April compared with 907,000 in March.
Cisco Systems Inc, up 10.3 percent to $23.39 in
premarket trade, may boost indexes after the network equipment
maker posted a higher-than-expected quarterly profit and said
current-quarter revenue could increase.
S&P 500 futures were up 0.6 point 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 rose 5
points, and Nasdaq 100 futures added 5.75 points.
Later in the session at 10 a.m. (1400 GMT), the Philadelphia
Federal Reserve Bank releases its April business activity
survey. Economists in a Reuters survey forecast an April reading
in the main index of 2.4 versus 1.3 in March.
A weaker-than-expected reading for New York state's
manufacturing sector on Wednesday failed to dent the bullish
sentiment among investors.
Tesla Motors Inc jumped 12.5 percent to $95.48 in
premarket trade after the electric carmaker said it aims to
raise $830 million through a stock and debt offering that will
be used to repay its U.S. Department of Energy loans with
interest. The stock has surged more than 50 percent since
posting earnings last week.
Advanced Micro Devices Inc slumped 6.2 percent to
$4.11 before the opening bell after Goldman Sachs cut its rating
on the stock to "sell."
European shares fell slightly after some investors took
profits on updates from Zurich Insurance Group and National Grid
as indexes hovered near multi-year highs.
Most stock markets in Asia edged up after solid growth data
from Japan improved sentiment, although Tokyo's Nikkei lagged.