US STOCKS-Futures dip with tech shares, jobless data due

* Cisco CEO still cautious over economy

* Jobless claims expected at 8:30 am EDT (1330 GMT)

* Futures down: S&P 1.3 pts, Dow 12 pts, Nasdaq 3 pts

* For up-to-the-minute market news see [STXNEWS/US]

NEW YORK, May 13 (BestGrowthStock) – U.S. stock index futures were
modestly lower on Thursday with technology shares in focus
after cautious comments from Cisco, as investors awaited
jobless data.

* Cisco Systems Inc (CSCO.O: ) reported quarterly results
that beat expectations late Wednesday, but its chief executive
was cautious about the economy as the U.S. employment picture
remained weak. For details, see [ID:nN12195688]

* Cisco shares fell 2.2 percent at $26.14 before the
opening bell.

* Also in the tech sector, Germany software company SAP AG
(SAPG.DE: )(SAP.N: ) plans to buy smaller U.S. rival Sybase Inc
(SY.N: ) for $5.8 billion to acquire technology that delivers
business software to smartphones. [ID:nN12224136]

* Initial jobless claims are due at 8:30 am EDT (1330 GMT).
First-time claims for jobless benefits are expected to dip to
440,000 last week from 444,000 the week before, according to a
Reuters poll of economists. [ECI/US]

* S&P 500 futures (SPc1: ) dipped 1.3 points and were below
fair value, a formula that evaluates pricing by taking into
account interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures (DJc1: ) fell 12
points, and Nasdaq 100 futures (NDc1: ) slipped 3 points.

* Stocks capped their best three-day run in 10 months on
Wednesday, boosted by tech and industrial shares, as Spain
unveiled an austerity plan that reassured investors that Europe
was addressing its fiscal ills.

* Financial stocks could come under pressure after the New
York Times reported the New York attorney general has begun an
investigation into eight banks to determine whether they
provided misleading data to rating agencies on mortgage
securities. [ID:nN13206949]

* With the financial reform bill being debated by
lawmakers, the U.S. Senate approved an amendment to preserve
Federal Reserve supervision of hundreds of smaller banks
instead of transferring them to other regulators.
[ID:nN12207690]

Stock Market Basics
(Reporting by Leah Schnurr; editing by Jeffrey Benkoe)

US STOCKS-Futures dip with tech shares, jobless data due