November 30, 2017 / 12:37 PM / a year ago

US STOCKS-Futures rise as tech stocks make recovery

* Futures up: Dow 90 pts, S&P 8.5 pts, Nasdaq 20.75 pts

By Sruthi Shankar

Nov 30 (Reuters) - U.S. stock futures rose on Thursday, setting up the market to end the month with gains, as investors looked past brief weakness in the technology sector and focused on developments surrounding a U.S. tax bill and a key OPEC meeting.

* The Republicans struggled to secure enough votes to pass a tax-cut bill in the Senate, as the measure moved toward a final vote late on Thursday or early on Friday.

* Brent crude prices gained 1.7 percent amid an OPEC meeting in Vienna in which producers are expected to extend a supply-cut deal with the goal of tightening supplies and propping up oil prices.

* In merger news, Juniper Networks shares fell about 8 percent in heavy premarket trading after Nokia denied takeover talks. Juniper shares shot up 22 percent on Wednesday after CNBC reported that Nokia had offered to buy Juniper for about $16 billion.

* Sears Holding jumped about 30 percent after the retailer narrowed its quarterly losses mainly due to store closures.

* U.S.-listed shares of Credit Suisse rose about 3 percent after the company announced plans to cut costs and laid out its profitability targets for 2019 and 2020.

* The Nasdaq recorded its biggest one-day drop in more than three months on Wednesday, as investors dumped technology stocks for bank stocks that could benefit from improving economic conditions and lower regulations.

* Economic data includes a report on U.S. consumer spending, accounting for more than two-thirds of economic activity, which is seen as rising 0.3 percent in October after a 1 percent increase in the previous month.

* The Federal Reserve’s preferred inflation measure, the personal consumption expenditures price index excluding food and energy, is forecast to show a 0.2 percent rise for October, up from 0.1 percent last month.

* Separately, the weekly initial claims for state unemployment benefits are likely to have increased to 240,000 from 239,000 from the week before.

* All the reports are due at 8:30 a.m. ET (1330 GMT).

Futures snapshot at 6:53 a.m. ET:

* Dow e-minis were up 90 points, or 0.38 percent, with 23,892 contracts changing hands.

* S&P 500 e-minis were up 8.5 points, or 0.32 percent, with 144,765 contracts traded.

* Nasdaq 100 e-minis were up 20.75 points, or 0.33 percent, on volume of 34,866 contracts. (Reporting by Sruthi Shankar in Bengaluru; Editing by Bernard Orr)

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