Hedge funds cut NFLX, keep big bets on MSFT, AMZN, add NVDA
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* Futures dip: Dow 0.07%, S&P 0.10%, Nasdaq 0.09%
By Medha Singh
Aug 21 (Reuters) - U.S. stock index futures ticked lower on
Friday, a day after the tech-heavy Nasdaq closed at a record
high, as investors awaited U.S. business surveys for more clues
on the economy's health.
Surveys from the euro zone showed an economic recovery from
its deepest downturn on record has stuttered this month, setting
up a downbeat tone for IHS Markit's surveys of the U.S.
manufacturing and services sectors due later in the day.
U.S. stocks finished higher on Thursday as investors bet on
tech heavyweights including Apple Inc AAPL.O and Amazon.com
AMZN.O to ride out the pandemic as U.S. data painted a picture
of a wobbly economic recovery.
Investors also worry about a stalemate in talks between
House Democrats and the White House over the next coronavirus
aid bill as about 28 million Americans continued to collect
unemployment cheques. Earlier this week, the S&P 500 clinched a record high,
recouping the last of its losses caused by the
coronavirus-driven slump and joining the Nasdaq in notching new
highs.
The Dow still remains about 6% below its peak in February.
At 6:35 a.m. ET, Dow e-minis 1YMcv1 were down 19 points,
or 0.07%, S&P 500 e-minis EScv1 were down 3.25 points, or 0.1%
and Nasdaq 100 e-minis NQcv1 were down 10 points, or 0.09%.
Among stocks, Deere & Co DE.N rose 4.5% premarket after it
revised up its full-year earnings forecast and reported a
smaller-than-expected decline in quarterly profit. Pfizer PFE.N rose 1.5% after reporting positive additional
data from an early-stage study of its experimental coronavirus
vaccine being developed in collaboration with German biotech
firm BioNTech BNTX.O22UAy.F .
U.S.-listed shares of BioNTech BNTX.O jumped 8.1%.
Tesla TSLA.O gained another 1.8% after surging past the
$2,000 mark on Thursday for the first time and extending its
rally ahead of an upcoming share split.