By Ellis Mnyandu 30 minutes ago NEW YORK (Reuters) - Stock index futures were little changed on Friday as news of a fourth straight quarterly loss by home finance company Fannie Mae (FNM.N) offset lower oil prices.The drop in oil prices buoyed hopes that inflation will ease, stimulating spending by businesses and consumers, which would restore corporate profit growth.
But Fannie Mae, the largest U.S. home finance company, highlighted the impact of the housing slump. Fannie slashed its dividend to preserve capital just three weeks after Washington took sweeping steps to shore up Fannie and its smaller rival, Freddie Mac (FRE.N).
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