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* Futures: Dow down 0.12%, S&P 500 up 0.07%, Nasdaq up 0.18%
Aug 14 (Reuters) - U.S. stock index futures were subdued on
Friday, a day after the S&P 500 closed at a record high, as
rising crude prices after the latest developments in the Middle
East kept investors cautious.
Cooling rate-hike expectations and resilient corporate
earnings have put the S&P 500 and the Nasdaq on track
for a third straight week of gains, their longest winning streak
since early April.
Expectations for a September rate hike have eased this week
after a benign consumer inflation reading helped allay concerns
about price pressures.
Still, rising tensions in the Middle East tempered sentiment
and sent Brent crude futures higher on Friday.
The U.S. said it could maintain a naval blockade of Iran
indefinitely and increase economic pressure on Tehran as
ceasefire talks stalled.
At 06:07 a.m. ET, Dow E-minis were down 64 points,
or 0.12%, and S&P 500 E-minis were up 5.75 points, or
0.07%. Nasdaq 100 E-minis were up 54.25 points, or
0.18%.
Applied Materials ( AMAT ) fell 5.4%, even after the chip
equipment maker forecast fourth-quarter revenue above Wall
Street estimates. The stock has more than doubled so far this
year.
Reddit jumped 12.4% after the social media company
was selected to join the S&P 500 index, effective August 18.
Fox Corp's ( FOXA ) Class A shares gained 2.1% after J.P.
Morgan upgraded the media company to "overweight" from
"neutral."
Shares of some drone makers gained after President Donald
Trump said late on Thursday that he would impose tariffs on
imports of drones and their components.
Red Cat ( RCAT ) jumped 7.1%, Unusual Machines ( UMAC )
added 13% and AeroVironment ( AVAV ) gained 3%.
Megacap and growth stocks were slightly higher, with Nvidia ( NVDA )
and Alphabet up about 0.3% each.
A July reading on retail sales is due later in the day,
which could offer more insight into the health of the U.S.
consumer.
Chicago Fed President Austan Goolsbeesaid late on Thursday
the latest U.S. inflation data has been "a little better," and
that he was hopeful inflation could continue to improve as the
effects of tariffs and higher oil prices from the Iran war
recede.
Comments from Atlanta Fed interim President Cheryl Venable
will also be closely watched later in the day.