US STOCKS-Futures flat ahead of GDP data

* Futures mixed: Dow up 23 pts, S&P up 4.25 pts, Nasdaq down
6.75 pts

By Ankur Banerjee

June 29 (Reuters) – U.S. stock index futures were little
changed on Thursday, a day after the benchmark S&P 500 index
scored its biggest one-day percentage gain in about two months,
as investors awaited GDP and jobs data.

* Wall Street stock rallied sharply on Wednesday as
financial and technology stocks led a broad market rebound.

* Shares of the top six U.S. banks rose in premarket trading
on Thursday, a day after the Federal Reserve approved the banks’
plans to raise dividend payouts and share buybacks under its
annual stress test program.

* The tech sector, which has led the S&P 500’s 9-percent
gain this year, has pulled back recently as some investors
question whether the group is too expensive.

* Oil prices rose to a two-week high on Thursday, extending
a rally into the sixth straight session, after a decline in
weekly U.S. production eased concerns about deepening
oversupply.

* The euro surged to its highest in over a year on Thursday,
while bond yields and global shares also climbed, as a slew of
hawkish comments from central banks signaled that the era of
easy money might be coming to an end for more than just the
United States.

* The U.S. Commerce Department’s final estimate of
first-quarter GDP is expected to show the economy growing at a
1.2 percent pace. The data is expected at 8:30 a.m. ET (1230
GMT)

* Initial jobless claims data for the week ended June 24 is
expected to have dropped 1,000 to a seasonally adjusted 24,000.

** Staples jumped 10 percent after private equity
firm Sycamore Partners agreed to acquire the U.S. office
supplies chain for $6.9 billion.

** Walgreens Boots Alliance shares were up 1.7
percent after it terminated agreement to buy Rite Aid Corp
, and would instead buy 2,186 Rite Aid stores and some
distribution centers for $5.18 billion.

Futures snapshot at 7:21 a.m. ET:

* Dow e-minis were up 23 points, or 0.11 percent,
with 20,379 contracts changing hands.

* S&P 500 e-minis were up 4.25 points, or 0.17
percent, with 124,133 contracts traded.

* Nasdaq 100 e-minis were down 6.75 points, or 0.12
percent, on volume of 24,936 contracts.
(Reporting by Ankur Banerjee in Bengaluru; Editing by Arun
Koyyur)

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