US STOCKS-Futures down ahead of Powell's speech on monetary policy

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* Futures slip: Dow 0.30%, S&P 0.22%, Nasdaq 0.23%

By Medha Singh
Aug 27 (Reuters) - U.S. stock index futures dipped on
Thursday as tensions between Washington and Beijing dampened the
mood ahead of an address by Federal Reserve Chair Jerome Powell,
in which he is expected to take a softer stance on inflation to
support a fragile economy.
Powell is likely to make a case for low interest rates and
higher inflation in an overhaul of the central bank's policy
approach in his remarks at the Jackson Hole symposium, being
held virtually this year. Before his address at 9:10 a.m. EDT (1310 GMT), investors
will get a look at the weekly jobless claims report, the most
timely U.S. economic indicator, which is expected to have dipped
to 1 million for the week ended Aug. 22.
Recent data suggests a wobbly recovery from one of the worst
recessions for the U.S. economy since the Great Depression.
Still, the S&P 500 and the Nasdaq have risen for the past
five session to new highs, largely driven by investors pouring
into heavyweight technology-related stocks.
Trading on Thursday was weighed down by U.S. sanctions on
China over military action in the disputed South China Sea.
At 6:16 a.m. ET, Dow e-minis 1YMcv1 were down 84 points,
or 0.3%, S&P 500 e-minis EScv1 were down 7.75 points, or 0.22%
and Nasdaq 100 e-minis NQcv1 were down 27.25 points, or 0.23%.
Among early movers, NetApp Inc NTAP.O jumped 10.2% in
premarket trading after it posted better-than-expected quarterly
results, powered by demand for its cloud services.
Abbott Laboratories ABT.N gained 9.2% after the medical
device maker won U.S. marketing authorization for a $5 rapid
COVID-19 portable antigen test. Quarterly reports from retailers Abercrombie & Fitch Co
ANF.N , Dollar Tree Inc DLTR.O , Dollar General Corp DG.N
and cosmetic maker Coty Inc COTY.N were also due premarket.