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* Futures down: Dow 29 pts, S&P 2.5 pts, Nasdaq 24.25 pts

By Sruthi Shankar

Dec 6 (Reuters) – U.S. stock futures pointed to losses at the open on Wednesday as high-flying technology stocks fell for the fourth day on worries over lofty valuations and the impact of a tax overhaul on corporate earnings.

* Tech giants AppleAAPL.O , MicrosoftMSFT.O , FacebookFB.O were all down between 0.53 percent and 0.73 percent in premarket trading.

* Other major decliner was Home DepotHD.N , which lost more than 1 percent after the home improvement chain announced a $15 billion share repurchase plan. urn:newsml:reuters.com:*:nL3N1O63OU

* The S&P technology index .SPLRCT has risen about 34 percent this year and was down nearly 4 percent over the past week as investors shifted money to banks, retailers and other stocks that could benefit the most from corporate tax cuts.

* The bill passed on Saturday by Republican senators included a last-minute change to retain the corporate alternative minimum tax, or AMT, which had initially been removed.

* Including the AMT could negate parts of the bill seen as beneficial to tech companies and other corporations.

* The ADP National Employment Report, due at 8:15 a.m. ET (1345 GMT), is expected to show U.S. private employers added 185,000 jobs in November, compared with a gain of 235,000 jobs in previous month.

* Among other early movers, Bill BarretBBG.N slipped more than 11 percent after the oil and gas producer agreed to buy Fifth Creek Energy for about $649 million. urn:newsml:reuters.com:*:nL3N1O55EP

* AeroVironmentAVAV.O surged 23.5 percent after the drone maker reported surprise quarterly profit, helped by higher gross margin. urn:newsml:reuters.com:*:nL3N1O55F2

Futures snapshot at 7:00 a.m. ET:

* Dow e-minis 1YMc1 were down 29 points, or 0.12 percent, with 25,990 contracts changing hands.

* S&P 500 e-minis ESc1 were down 2.5 points, or 0.1 percent, with 169,943 contracts traded.

* Nasdaq 100 e-minis NQc1 were down 24.25 points, or 0.39 percent, on volume of 46,300 contracts.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur) ((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))

Keywords: USA STOCKS/


Referenced Symbols:
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