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US STOCKS-Futures slip as investors turn risk averse
June 6, 2017 / 11:32 AM / 5 months ago

US STOCKS-Futures slip as investors turn risk averse

* Futures down: Dow 34 pts, S&P 4.25 pts, Nasdaq 5 pts

By Tanya Agrawal

June 6 (Reuters) - U.S. stock index futures were slightly lower on Tuesday as investors turned risk averse ahead of British elections and FBI Director James Comey’s much-anticipated testimony before Congress later this week.

* Comey plans to talk on Thursday about conversations in which President Donald Trump pressured him to drop his investigation into former national security adviser Mike Flynn, according to reports. Flynn was fired for failing to disclose conversations with Russian officials.

* British Prime Minister Theresa May’s lead over the opposition Labour Party ahead of the general election on Thursday has narrowed to just 1 percentage point, according to a poll conducted on Friday and Saturday before the latest attacks in London.

* Other opinion polls in recent days have indicated a bigger leads for the Conservatives, some as high as 11 and 12 points.

* Oil prices fell further below $50 a barrel on concerns that a diplomatic rift between Qatar and several Arab states, including Saudi Arabia, could undermine efforts by OPEC to tighten the market.

* Safe havens were in favor, with gold touching its highest in about seven weeks. Spot gold was up 0.9 percent at $1291.46 an ounce.

* Wall Street slipped on Monday as a drop in Apple partly offset gains in energy and financial stocks, some of the market’s worst-performing sectors so far this year.

* Still, stocks continue to hover around record levels, helped by a strong first-quarter corporate earnings season.

* Investors are also keeping an eye on economic data after services sector activity slowed in May and worker productivity remained unchanged in the first quarter, suggesting limited scope for faster economic growth.

* Shares of Perrigo fell 2 percent to $70.38 in premarket trading after the drugmaker said its chief executive officer planned to retire.

* HD Supply Holdings was down 5.5 percent at $39 after the industrial distributor said it would sell its waterworks unit to private equity firm Clayton, Dubilier & Rice for $2.5 billion.

Futures snapshot at 6:56 a.m. ET (1056 GMT):

* Dow e-minis were down 34 points, or 0.16 percent, with 17,452 contracts changing hands.

* S&P 500 e-minis were down 4.25 points, or 0.17 percent, with 96,778 contracts traded.

* Nasdaq 100 e-minis were down 5 points, or 0.09 percent, on volume of 19,672 contracts. (Reporting by Tanya Agrawal in Bengaluru; Editing by Anil D‘Silva)

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