Stock futures flat in Fed wake, data on tap

[June 19, 2014] By Chuck Mikolajczak

 NEW YORK (Reuters) - U.S. stock index futures were little changed on Thursday, after four straight days of gains sent the S&P 500 to a fresh record high, ahead of data on the labor market and manufacturing.

The benchmark S&P index is up 1.4 percent over the past four days and notched its biggest advance in nearly a month on Wednesday, after the Federal Reserve hinted at a slightly faster pace of interest-rate increases starting next year but suggested rates in the long run would be lower than it had indicated previously.

The gains pushed the S&P above its prior record high of 1,951.27 set on June 9.

Investors will eye weekly initial jobless claims data at 8:30 a.m. (1230 GMT). Expectations call for the number of claims to dip to 314,000 versus the 317,000 recorded last week.

Later in the session, the Philadelphia Federal Reserve will release its June manufacturing survey for the mid-Atlantic region at 10 a.m. (1400 GMT). Expectations call for a reading of 14 in the main business activity index against 15.4 in May.
 

Also due at 10 a.m. (1400 GMT) is the Leading Economic Index for May from the Conference Board. Forecasts are for an increase of 0.6 percent, up from the 0.4 percent in April.

S&P 500 e-mini futures were down 0.25 point and fair value - a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract - indicated a flat open. Dow Jones industrial average e-mini futures rose 1 point and Nasdaq 100 e-mini futures  added 2.5 points.

U.S.-listed shares of Blackberry jumped 9.2 percent to $9.05 before the opening bell after the company posted a first-quarter loss that was smaller than expected.

Rite Aid  advanced 2.4 percent to $7.62 in premarket after the drugstore operator reported first-quarter earnings that met analysts' expectations and confirmed its outlook for 2015.

European shares rose on Thursday, boosted after the Federal Reserve said the U.S. economy was making progress and committed to retaining accommodative monetary policy over the long term. Asian shares also rose after the Fed statement.

(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)

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