* Initial claims, housing starts data due
* Morgan Stanley climbs in premarket after earnings
* Futures off: Dow 56 pts, S&P 11.25 pts, Nasdaq 25.25 pts
By Chuck Mikolajczak
NEW YORK, July 17 U.S. stock index futures were
lower on Thursday, in the wake of new U.S. and European Union
sanctions on Russia and ahead of data on the labor and housing
* The U.S. sanctions announced late Wednesday hit some of
Russia's biggest firms while the EU sanctions were aimed at
Russian companies that help destabilize Ukraine and will block
new loans to Russia through two multilateral lenders. Russia's
MICEX index lost 2.9 percent.
* Data at 8:30 a.m. EDT (1230 GMT) includes weekly initial
jobless claims and housing starts for June. The Philadelphia Fed
manufacturing survey is due later in the session at 10:00 a.m.
* As earnings season continues to roll along, Morgan Stanley
shares advanced 0.8 percent to $32.76 in premarket
trading after posting second-quarter results.
* Sandisk Corp shares slumped 7.5 percent to $99.70
before the opening bell after the company reported
second-quarter profit and revenue that barely beat analysts'
expectations and gave a third-quarter revenue forecast that was
below Wall Street's estimate.
* Mattel shares dropped 5.2 percent to $37 in light
premarket trade after the world's largest toymaker reported its
third straight fall in quarterly sales on a slump in demand for
Barbie dolls and Fisher Price preschool toys.
* Google and IBM are scheduled to report
earnings after the closing bell.
* S&P 500 companies' profits are expected to grow 5.2
percent in the second quarter, according to Thomson Reuters
data, down from the 8.4 percent growth forecast at the start of
April. Revenue is seen up 3.2 percent.
* Thomson Reuters data also shows that of the 45 companies
in the S&P 500 that have reported earnings through Wednesday
morning, 66.7 percent have topped Wall Street expectations,
roughly in-line with the 67 percent rate for the past four
quarters and above the 63 percent rate since 1994.
* S&P 500 e-mini futures were down 11.25 points and
fair value - a formula that evaluates pricing by taking into
account interest rates, dividends and time to expiration on the
contract - indicated a lower open. Dow Jones industrial average
e-mini futures fell 56 points and Nasdaq 100 e-mini
futures lost 25.25 points.
* European stock markets fell as the new Western sanctions
on Russia and mixed corporate earnings dented investors'
appetite for equities.
* Asian equities dipped, giving up earlier modest gains as
Chinese shares fell.
(Editing by Bernadette Baum)