US STOCKS-Wall Street set to take a breather; on track for weekly gains

* Twitter plunges on grim outlook
* Chevron down as profit drops on weaker refining margins
* U.S. consumer spending rebounds in March
* Futures down: Dow 0.49%, S&P 0.62%, Nasdaq 0.83%

(Adds comments, bullets; updates prices throughout)
By Shivani Kumaresan
April 30 (Reuters) - Wall Street's three main indexes were
set to fall at the open on Friday as investors hit pause after a
barrage of strong earnings and upbeat economic data through the
week drove the benchmark S&P 500 index to record level.
A rally in shares of big technology companies following
their impressive results has put all three major indexes on
track for weekly gains, while setting up the Nasdaq index
.IXIC for a sixth straight month of increase.
The S&P 500 .SPX and Dow Jones Industrial Average .DJI
are also on course for their third straight monthly gains.
"A lot of the earnings is already in, and so the market has
entered a fatigue environment and investors are now going to
assess the economic picture," said Peter Cardillo, chief market
economist at Spartan Capital in New York.
Amazon.com Inc AMZN.O rose 1.8% in premarket trading after
posting record profits and signaling that consumers would keep
spending in a growing U.S. economy and converts to online
shopping are not likely to leave. Twitter Inc TWTR.N plunged 12.6% as it offered tepid
revenue forecast for the second quarter, saying user growth
could slow as the boost seen during the coronavirus pandemic
fizzles.
Other high-flying stocks, including Facebook Inc FB.O ,
Alphabet Inc GOOGL.O , Apple Inc AAPL.O and Netflix Inc
NFLX.O , fell between 1.0% and 1.8%.
Strong economic growth in the first quarter, along with the
Federal Reserve's stance of keeping monetary policy loose for
the foreseeable future, has pushed global stocks near record
highs.
Data on Friday showed U.S. consumer spending rebounded in
March amid a surge in income as households received additional
COVID-19 pandemic relief money from the government. 8:36 a.m. ET, Dow e-minis 1YMcv1 were down 166 points,
or 0.49%, S&P 500 e-minis EScv1 were down 26 points, or 0.62%,
and Nasdaq 100 e-minis NQcv1 were down 115.75 points, or
0.83%.
Chevron Corp CVX.N shed 2.4% after its first-quarter
profit fell 29%, hit by weaker refining margins and production
losses. Gilead Sciences Inc GILD.O fell 2.8% after its
first-quarter revenue fell short of Wall Street estimates as the
coronavirus pandemic hurt sales of its flagship HIV and
hepatitis C drugs.