November 23, 2018 / 1:57 PM / 6 months ago

US STOCKS-Wall Street set to open lower as oil slides

* Oil prices at more than a year low, hits energy stocks

* Friday session ends at 1 p.m. ET (1800 GMT)

* Futures down: Dow 0.63 pct, S&P 0.72 pct, Nasdaq 0.86 pct (Adds details, updates prices)

By Medha Singh

Nov 23 (Reuters) - Wall Street was set to open lower on Friday as energy stocks took a hit from oil prices sliding to their lowest in more than a year, while investors were nervous ahead of U.S.-China trade talks at the G20 summit next week.

Volumes are likely to be thin in a shortened trading session on Friday that will see the U.S. stock market close at 1 p.m. ET (1800 GMT). The markets were closed on Thursday for the Thanksgiving holiday.

Benchmark Brent crude was down nearly 5 percent even as oil producers considered cutting production to stem a rising global surplus.

Oil majors Exxon Mobil Corp and Chevron Corp fell more than 2 percent each in premarket trading, while oilfield services providers Schlumberger NV and Halliburton Co dropped more than 4 percent. Marathon Oil Corp shed 7.6 percent.

"The post-holiday abbreviated session is looking bleak as the futures point to a weak opening with crude prices tumbling in early pre-market trading," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.

At 8:35 a.m. ET, Dow e-minis were down 154 points, or 0.63 percent. S&P 500 e-minis were down 19 points, or 0.72 percent and Nasdaq 100 e-minis were down 56.25 points, or 0.86 percent.

The Nasdaq, which has lost 3.8 percent so far this week, is on course for its biggest weekly decline since late March as worries about a cooling global economy and peaking corporate earnings have led investors to sell high-growth names, particularly in the technology sector.

Investors will be focusing on the G20 summit in Buenos Aires, where U.S. President Donald Trump and his Chinese counterpart Xi Jinping are expected to hold talks amid a worsening trade dispute between the two countries that has weighed on financial markets and sparked fears of a global slowdown.

The high-stakes meeting comes as the Trump administration shows little sign of backing down in its demands and rhetoric. Chinese Vice Commerce Minister Wang Shouwen said on Friday that trade talks should be equal and mutually beneficial.

Adding to worries, the Wall Street Journal reported that the U.S. government was trying to persuade wireless and internet providers in allied countries to avoid telecommunications equipment from China's Huawei Technologies.

Retail stocks will be in focus as U.S. shoppers hit department stores for Black Friday deals, with a strong economy and rising wages driving a solid start to the holiday selling season.

Among other early movers, United Technologies Corp rose 0.9 percent after receiving conditional approval from China's market regulator to buy aircraft parts maker Rockwell Collins Inc. Rockwell shares jumped 8.4 percent. (Reporting by Medha Singh in Bengaluru; Editing by Anil D'Silva)

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