CORRECTED-US STOCKS-Futures slip as weak Chinese data sparks growth fears; Cisco falls

(Corrects to producer price index from purchasing price index
in fifth paragraph)
* Futures off: Dow 0.14%, S&P 0.17%, Nasdaq 0.20%

By Arjun Panchadar
Nov 14 (Reuters) - U.S. stock index futures slipped slightly
on Thursday, a day after the S&P 500 and the Dow closed at
record highs, as weak Chinese economic data and a dour forecast
from Cisco rekindled fears of a global slowdown.
Cisco Systems Inc CSCO.O fell 5.6% after the network gear
maker said current-quarter revenue would fall 3% to 5% amid
declining global spending on its routers and switches, some of
which are made in China. A 16-month trade war between the world's two biggest
economies has disrupted supply chains and hit economic growth.
Data on Thursday showed China's factory output growth slowed
significantly more than expected in October, weighed down by
tit-for-tat tariffs imposed by Washington and Beijing.
Hopes of a resolution to the dispute spurred Wall Street to
record highs this month, but President Donald Trump recently
tempered expectations with the threat of more tariffs if China
failed to reach a deal.
Investors have closely tracked economic indicators to gauge
the fallout of the trade war on the domestic economy. Fresh data
from the Labor Department at 8:30 a.m. ET is expected to show a
rebound in the producer price index in October after a dip in
September.
All eyes are on Federal Reserve Chair Jerome Powell's
testimony before the House Budget Committee on Thursday after
his comments about a "sustained expansion" ahead for the U.S.
economy supported stock markets in the previous session.
A fairly better-than-expected corporate earnings season has
also contributed to the stocks rally, with the benchmark S&P 500
index on course for its sixth straight weekly increase.
At 7:35 a.m. ET, Dow e-minis 1YMcv1 were down 38 points,
or 0.14%. S&P 500 e-minis EScv1 were down 5.25 points, or
0.17% and Nasdaq 100 e-minis NQcv1 were down 16.5 points, or
0.2%.
Walmart Inc WMT.N rose 3.1% as the world's biggest
retailer reported better-than-expected third-quarter U.S.
comparable sales on higher spending at its stores and website.
Viacom Inc VIAB.O gained 3.3% after the MTV-owner topped
quarterly profit estimates, helped by a rise in domestic
advertising revenue. But Kraft Heinz Co KHC.O fell 1.8% after a report that
Goldman Sachs had downgraded the food and beverage maker's stock
to "sell".