US STOCKS-Futures flat after decline, GDP data awaited

miércoles 25 de junio de 2014 07:39 GYT

* Final read on first-quarter GDP on tap, contraction expected

* Investors watching Iraq tension, crude oil rises early

* Bristol immunotherapy prolongs survival in melanoma trial

* Futures up: Dow 9 pts, S&P 500 2 pts, Nasdaq 0.5 pt

By Ryan Vlastelica

NEW YORK, June 25 (Reuters) - U.S. stock index futures were flat on Wednesday, following a sharp decline in the previous session, as investors looked ahead to a read on GDP expected to show the economy shrank in the first quarter.

* The final read on first-quarter gross domestic product is due at 8:30 a.m. (1230 GMT) and is seen showing a contraction of 1.7 percent, wider than the previous read of minus 1 percent.

* A negative read, which largely reflects the impact of harsh winter weather throughout the early months of the year, is likely priced into markets, but other economic indicators could drive trading. Durable goods orders, also due at 8:30 a.m., are seen as flat in May, while a June read on service sector business activity from financial data firm Markit is seen as essentially unchanged from May.

* The S&P 500 hit an intraday record in early trading on Tuesday, boosted by some positive economic data, but enthusiasm waned in the final hours of trading as concerns over Iraq returned to the forefront. The Dow posted its biggest daily decline in over a month.   Continuación...