January 19, 2018
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Futures Lower on Deutsche Bank Concerns

By Yashaswini Swamynathan (Reuters)

U.S. stock index futures were slightly lower on Friday as fresh worries about Deutsche Bank's woes unsettled investors.

The largest German lender's <DBKGn.DE> stock fell to a record low on Friday on news that a number of hedge funds had pulled out collateral as the bank faces a $14 billion demand from U.S. authorities for misselling mortgage-backed securities.

U.S. stocks fell sharply on Thursday amid choppy trading as banks took a beating due to declines in Deutsche Bank and Wells Fargo <WFC.N>, whose chief executive was rebuked by lawmakers over his handling of sales abuses.

Citigroup <C.N> was down 0.66 percent premarket, while U.S.-listed shares of RBS <RBS.N> fell by a similar margin. Stocks of other big U.S. banks were little changed.

Oil prices fell 1.7 percent as investors cashed in on a two-day rally after OPEC members agreed to curb output to stabilize an over-supplied market. [O/R]

The markets are due for increased volatility as the third-quarter earnings season approaches and as uncertainty brews over the outcome of the U.S. presidential election in November.

A report at 8:30 a.m. ET (1230 GMT) is expected to show core personal consumption expenditure, the Federal Reserve's preferred inflation measure, rose 0.2 percent in August.

At 10:00 a.m. ET, investors will get the final reading on the University of Michigan's consumer sentiment index, which is expected to have edged up to 90 this month from 89.8 the previous month.

Dallas Fed president Robert Kaplan is scheduled to speak at an event at 1:00 p.m. ET.

CalAmp <CAMP.O> was down 17.7 percent after the wireless device maker reported quarterly revenue that missed analysts' estimates.

Extended Stay America <STAY.N> was down 3.7 percent after the company priced a secondary offering below the Thursday closing price of its stock.

Futures snapshot at 7:34 a.m. ET:

Dow e-minis <1YMc1> were down 14 points, or 0.08 percent, with 33,597 contracts changing hands.

S&amp;P 500 e-minis <ESc1> were down 1 points, or 0.05 percent, with 221,287 contracts traded.

Nasdaq 100 e-minis <NQc1> were down 5 points, or 0.1 percent, on volume of 33,360 contracts.

(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D'Silva)