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Wall Street little changed ahead of data; Barclays lawsuit in focus

June 26, 2014
By Angela Moon and Chizu Nomiyama

NEW YORK (Reuters) – Stock futures were little changed on Thursday after Wall Street snapped a two-day losing streak, with the market’s focus on a batch of economic data including weekly jobless claims.

* Weekly jobless claims data is due at 8:30 a.m. ET. A Reuters survey of analysts expect a reading of 310,000, slightly down from the previous week’s 312,000.

* Personal income and spending data is also due at 8:30 a.m ET.

* Alcoa Inc has agreed to buy aircraft parts maker Firth Rixson from private equity firm Oak Hill Capital Partners for $2.85 billion in cash and stock. Alcoa shares were up 2.5 percent in premarket trade.

* Accenture Plc , a consulting and outsourcing company, reported a 7.5 percent rise in quarterly net revenue, led by faster growth in its consulting business. The stock was down 0.1 percent in premarket trade.

* Shares of the wearable sports camera maker GoPro will debut on the Nasdaq after 17.8 million class A shares priced at $24 per share, top end of the expected price range of $21-$24. The IPO raised about $427.2 million.

* S&P 500 e-mini futures were down 1 point and in line with 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 <1YMc1> fell 4 points while Nasdaq 100 e-mini futures added 1 points.

* U.S.-listed shares of Barclays PLC fell 5 percent in premarket trade after the New York State’s attorney general filed a securities fraud lawsuit against the British bank. The bank is being accused giving an unfair edge in the United States to high-frequency trading clients even as it claimed to be protecting other customers from such traders.

* European stocks inched up on Thursday, halting the previous session’s sell-off, but Barclays led falls in banking shares. The European banking sector index <.SX7P> shed 0.6 percent. [.EU]

* On Wednesday U.S. stocks rose, led by drugmakers, while a Supreme Court ruling lifted the shares of major broadcasters. But the S&P 500’s gains followed two days of losses, putting the index on track for a decline of 0.2 percent for the week.

(Reporting by Angela Moon; Editing by Chizu Nomiyama)

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