Stock index futures point to falls for Wall Street

23/06/2011 - 9:26

NEW YORK (Reuters) - Stock index futures pointed to a lower open for Wall Street on Thursday, adding to weakness from the previous session, with futures for the S&P 500, Dow Jones futures and Nasdaq futures all down around 0.3 percent by 5:08 a.m. EDT.

Economic data from the labor and housing sector will provide fresh clues about the pace of economic growth. New home sales for May, due at 10 a.m. EDT, was expected to show a dip to 310,000 from 323,300 sales recorded in April before.

Weekly jobless claims due at 8:30 a.m. EDT was also expected to be closely watched, with claims seen holding steady at 415,000 after a drop in initial claims last week offered hope that the soft patch in the economy could be easing.

Oracle will release fourth-quarter results, with analysts expecting earnings per share of $0.71, up from $0.60 a year ago. Although the company has a habit of beating expectations, some investors fear billionaire Larry Ellison's software and server juggernaut will find it hard to keep up its own pace when it reports earnings and sets new forecasts.

Other companies to report earnings include ConAgra Foods , Lennar Corp and Discover Financial Services .

* In company news, Bristol-Myers Squibb Co rose 7.3 percent in extended trade after saying a blood thinner it developed along with