* Stocks set to end the week lower
* Data on tap includes producer prices, consumer sentiment
* Futures down: Dow 12 pts, S&P 1.6 pts, Nasdaq 1.75 pts
By Leah Schnurr
NEW YORK, June 14 U.S. stock index futures
inched lower on Friday, with Wall Street set to rack up a loss
for the week, as concerns linger over whether world central
banks will prematurely rein in stimulus programs that have
boosted equity markets this year.
Uncertainty over the longevity of monetary policy around the
world has roiled markets recently and nerves were stretched
further earlier in the week when the Bank of Japan decided to
hold policy steady.
The prospect that the accommodative stance of central banks
- particularly the Federal Reserve - could be pulled bank sooner
than expected has prompted traders to rethink this year's bets
that have been built around that support. Stocks have fallen
during three of the past four days, and heading into Friday's
session, the S&P 500 is down 0.4 percent on the week.
Attention is now focused on the Fed's policy-setting meeting
next week. Investors will be looking for insight into how soon
the central bank will wind down its monthly $85-billion bond
"Markets are looking at next week's Fed meeting to be the
big driver in the short-term," said Kim Forrest, senior equity
research analyst at Fort Pitt Capital Group in Pittsburgh.
"Bernanke has really increased the amount of transparency in
the Fed's thinking," said Forrest. "This isn't going to be a
jack-in-the-box surprise Fed, it's going to be a Fed that
clearly indicates what it's going to do. That's why people are
looking to this meeting in particular."
On the economic front, investors await data on producer
prices, industrial production and consumer sentiment.
S&P 500 futures fell 1.6 points but 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 was off 12
points, and Nasdaq 100 futures lost 1.75 points.
Boeing Co is poised to launch a larger member of its
787 Dreamliner jetliner family to meet demand for long-haul
travel within Asia and other long-haul routes, sources said.
Smith & Wesson Holding Corp's shares could get a
boost after the gun maker raised its outlook for the fourth
Broadcast Music Inc (BMI), a songwriters' rights
organization, is suing Pandora Media after the Internet
radio company rejected a request to pay a higher license fee for
playing songs across various devices.