US STOCKS-Wall St set to open higher after ECB decision, retail sales data

Reuters

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    * U.S. retail sales in May beat expectations
    * Fox gains after Comcast offers $65 bln to fend off Disney 
    * Mylan drops after FDA sees minor deficiencies in Advair
generic
    * Futures up: Dow 89 pts, S&P 8 pts, Nasdaq 23 pts  

 (Adds comment, details, updates prices)
    By Sruthi Shankar
    June 14 (Reuters) - Wall Street was on track to open higher
on Thursday after strong retail sales data, while investors
assessed the European Central Bank's move to end its stimulus
program and the Federal Reserve's guidance on monetary policy.  
 
    The Fed raised its benchmark interest rates by 25 basis
points for the second time this year on Wednesday and hinted at
two more hikes by the end of 2018.  urn:newsml:reuters.com:*:nTLADHEE2K
    Traders are pricing in a 53 percent chance that the Fed will
raise rates for a fourth time this year in December, according
to the CME group's Fedwatch tool.
    The ECB took its biggest step in dismantling crisis-era
stimulus by the close of the year, but the central bank also
said that interest rates would stay at record lows at least
through the summer of 2019.  urn:newsml:reuters.com:*:nL8N1TG0UZ
    "There's some concern that we're going to see a lot tighter
policy. But both the Fed and the ECB, especially, are very
accommodative at this point and it doesn't look like it's going
to derail the expansion that we're seeing anytime soon," said
Scott Brown, chief economist at Raymond James in St. Petersburg,
Florida.
    Data on Thursday showed U.S. retail sales increased more
than expected in May, the latest indication of an acceleration
in economic growth in the second quarter.  urn:newsml:reuters.com:*:nLNSEHEEET
    At 8:45 a.m. ET, Dow e-minis  1YMc1  were up 89 points, or
0.35 percent. S&P 500 e-minis  ESc1  were up 8 points, or 0.29
percent and Nasdaq 100 e-minis  NQc1  were up 23 points, or 0.32
percent.
    Trade tensions simmered, with President Donald Trump due to
unveil tariffs targeting $50 billion of Chinese goods on Friday.
An official said Trump would meet with his top trade advisers on
Thursday to decide whether to activate threatened tariffs.
 urn:newsml:reuters.com:*:nL1N1TG05L
    Among stocks, Twenty-First Century Fox  FOXA.O  rose 1.4
percent in premarket trading after Comcast  CMCSA.O  offered $65
billion to lure the company away from a merger with Walt Disney
 DIS.N  with a 20 percent higher offer.  urn:newsml:reuters.com:*:nL4N1TF5B8
    Oracle  ORCL.N  dropped 2.5 percent after Nomura cut its
price target on the business software maker's stock.
    Mylan  MYL.O  fell 2.8 percent after the company said U.S.
regulators were unable to approve its generic version of inhaled
lung drug Advair as they found "minor deficiencies" in the
treatment.  urn:newsml:reuters.com:*:nL4N1TF5DB

 (Reporting by Sruthi Shankar in Bengaluru)
 ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6749 6328; Reuters Messaging:
sruthi.shankar.reuters.com@reuters.net))

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