* Retail sales seen rising 0.6 percent in May
* Geron rallies in premarket after FDA move
* Semiconductor index in longest rally in its history
* Indexes up: Dow 2 pts, S&P 0.6 pt, Nasdaq 5.75 pts
By Ryan Vlastelica
NEW YORK, June 12 U.S. stock index futures were
flat on Thursday as investors looked ahead to data on retail
sales and the labor market, taking a pause after the S&P 500's
biggest one-day drop in three weeks.
* The S&P has fallen for two straight days, while the Dow
snapped a four-day streak of records on Wednesday. However, the
market's uptrend is still seen intact, and the benchmark S&P
remains less than 0.4 percent away from its record close.
* Low volume and low volatility have marked recent sessions,
with indexes trading in a tight range amid an absence of major
* There could be catalysts at 8:30 a.m. (1230 GMT), with the
release of retail sales and jobless claims data. May retail
sales are seen rising 0.6 percent, up from the 0.1 percent
growth rate in April, while weekly jobless claims are seen
falling by 2,000 to 310,000. May import and export prices will
also be released at 8:30, and are seen rising 0.2 percent and
0.1 percent, respectively.
* The CBOE Volatility Index had its biggest one-day
advance since mid-May on Wednesday, rising to 11.6, though it
remains well below its historical average of 20. In another
measure of the market's low volatility, the 14-day Average True
Range on the S&P 500 fell to 9.71 on Wednesday, the lowest since
* S&P 500 futures rose 0.6 point and 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 added 2
points and Nasdaq 100 futures rose 5.75 points.
* In company news, Geron Corp was the Nasdaq's most
active premarket mover, jumping 33 percent to $3.45 on heavy
volume after the U.S. Food and Drug Administration lifted a
partial clinical hold on a study testing its blood cancer drug.
* Lululemon Athletica Inc fell 6.8 percent to
$41.28 in premarket trading after the athletic apparel retailer
cut its full-year earnings and revenue outlook.
* Intel Corp lost its challenge against a record
$1.44 billion European Union fine handed down five years ago, as
Europe's second highest court said regulators did not act too
harshly. Shares of the Dow component fell 0.6 percent to $27.77
before the bell.
* Chipmakers will be in focus on Thursday, a day after the
PHLX semiconductor index closed out its 15th straight
daily advance, the longest stretch of gains since the index was
created about 20 years ago. It is up 7.8 percent during the
* Twitter Inc rose 0.4 percent in premarket
trading. Late Wednesday, technology news site Re/code reported
that the social networking company was considering a shake-up in
its top management, including a possible shift in the duties of
Chief Operating Officer Ali Rowghani.
(Editing by Chizu Nomiyama)