* Futures down: Dow 11 pts, S&P 3.5 pts, Nasdaq 10 pts
By Yashaswini Swamynathan
Dec 1 U.S. stock index futures kicked off
December on a somber note ahead of a raft of data that would
offer more clues on the strength of the economy.
* Oil prices were up 1 percent, building on a 9 percent gain
from a day earlier after major producers decided to cut output
and support prices.
* Gains in energy shares pushed the Dow and the S&P 500 to
all-time highs on Wednesday, but Wall Street lost momentum due
to losses in utility and technology stocks. The Dow closed
slightly higher, while the S&P and the Nasdaq finished the day
in negative territory.
* Economic data on tap include the ISM Manufacturing
Purchasing Managers' index (PMI), which likely rose to 52.2 in
November from 51.9 the previous month. The report is due at
10:00 a.m. ET.
* Investors will also get a reading on weekly jobless claims
at 8:30 a.m. ET and automakers will release their monthly sales
reports through the day.
* The Labor Department's report on monthly hiring data, due
on Friday, is likely to play a key role in the Federal Reserve's
deliberations on raising interest rates.
* Improving economic data and Donald Trump's victory in the
U.S. presidential election have increased the odds of a rate
hike at the Fed's final meeting of the year later this month.
* Traders currently see a 90 percent chance of an increase
in rates this month, according to Thomson Reuters data.
* Bluebird Bio shares soared 22.6 percent to $74 in
premarket trading after the gene-therapy developer said patients
undergoing its multiple myeloma treatment showed strong
* Dollar General fell 5 percent to $73.50 after the
discount retailer reported a surprise drop in third-quarter
* Express Inc and Guess Inc dropped 13
percent each after the apparel and accessories retailers cut
their full-year profit forecasts.
Futures snapshot at 7:23 a.m. ET:
* Dow e-minis were down 11 points, or 0.06 percent,
with 22,608 contracts changing hands.
* S&P 500 e-minis were down 3.5 points, or 0.16
percent, with 124,553 contracts traded.
* Nasdaq 100 e-minis were down 10 points, or 0.21
percent, on volume of 19,007 contracts.
(Reporting by Yashaswini Swamynathan in Bengaluru)