Stock futures little changed after volatile session

NEW YORK (Reuters) - U.S. stock index futures were little changed on Wednesday, a day after stocks staged an intraday rally to end nearly flat after a decline of as much as 1.3 percent.

Stocks shook off worries about global weakness and political turmoil in Greece on Tuesday to erase a sharp decline as energy and technology shares rose.

Energy shares will likely be in focus again, as Brent crude dropped below $66 a barrel to trade just above a five-year low on supply concerns. Oil prices have been under pressure from the dollar's strength and OPEC's decision against an output cut, with Brent down more than 40 percent from its June high.[O/R]

The S&P Energy sector <.SPNY> is the worst performing of the 10 major S&P sectors for the year and the only group in negative territory. Falling oil prices have raised concerns about earnings for energy companies, with year-end tax selling bringing additional pressure on the group.

After climbing to its most recent record high on Friday, the S&P 500 <.SPX> has slipped 0.7 percent and is up 10.6 percent from its October low.

China's inflation hit a five-year low in November, sparking hopes Beijing will move more aggressively with monetary policy easing to head off the risk of deflation in a slowing economy.

Costco Wholesale Corp rose 0.9 percent to $144.36 in light premarket trade after it reported a better-than-expected quarterly profit as increased promotions helped the warehouse club operator deal with fierce competition.

Toll Brothers edged up 0.6 percent to $35 in light trade before the opening bell after the homebuilder posted its quarterly results.

Yum Brands Inc lowered its profit forecast for the year for the second time, hurt by slower-than-expected sales recovery in China following a food safety scare in July.

European stocks rose in a technical bounce after sliding 3 percent over two days, although energy stocks dropped again.

Asian shares slumped, pulling back on global growth concerns and political uncertainty in Greece, although Chinese shares rebounded from a selloff in the prior session on expectations of further easing by the People's Bank of China.

(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)

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