* The S&P has fallen for two straight days, while the Dow snapped a
four-day streak of records on Wednesday. However, the market's
uptrend is still seen intact, and the benchmark S&P remains less
than 0.4 percent away from its record close.
* Low volume and low volatility have marked recent sessions, with
indexes trading in a tight range amid an absence of major trading
* There could be catalysts at 8:30 a.m. (1230 GMT), with the release
of retail sales and jobless claims data. May retail sales are seen
rising 0.6 percent, up from the 0.1 percent growth rate in April,
while weekly jobless claims are seen falling by 2,000 to 310,000.
May import and export prices will also be released at 8:30, and are
seen rising 0.2 percent and 0.1 percent, respectively.
* The CBOE Volatility Index had its biggest one-day advance since
mid-May on Wednesday, rising to 11.6, though it remains well below
its historical average of 20. In another measure of the market's low
volatility, the 14-day Average True Range on the S&P 500 fell to
9.71 on Wednesday, the lowest since February 2013.
* S&P 500 futures rose 0.6 point and were above 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 added 2 points and Nasdaq 100 futures
rose 5.75 points. * In company news, Geron Corp was the Nasdaq's
most active premarket mover, jumping 33 percent to $3.45 on heavy
volume after the U.S. Food and Drug Administration lifted a partial
clinical hold on a study testing its blood cancer drug.
* Lululemon Athletica Inc fell 6.8 percent to $41.28 in premarket
trading after the athletic apparel retailer cut its full-year
earnings and revenue outlook.
[to top of second column]
* Intel Corp lost its challenge against a record $1.44 billion
European Union fine handed down five years ago, as Europe's second
highest court said regulators did not act too harshly. Shares of the
Dow component fell 0.6 percent to $27.77 before the bell.
* Chipmakers will be in focus on Thursday, a day after the PHLX
semiconductor index closed out its 15th straight daily advance, the
longest stretch of gains since the index was created about 20 years
ago. It is up 7.8 percent during the recent streak.
* Twitter Inc rose 0.4 percent in premarket trading. Late Wednesday,
technology news site Re/code reported that the social networking
company was considering a shake-up in its top management, including
a possible shift in the duties of Chief Operating Officer Ali
(Editing by Chizu Nomiyama)
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