* Futures: Dow unchanged, S&P up 0.5 pt, Nasdaq up 3.5 pts
* Japan's gross domestic product weaker-than-expected
* Julius Baer to buy BofA's non-U.S. Merrill Lynch wealth
By Chuck Mikolajczak
NEW YORK, Aug 13 (Reuters) - U.S. stock index futures were
flat on Monday after a six-day winning streak for the S&P 500 as
investors weighed expectations for more central bank stimulus
after Japan showed economic weakness.
As traders speculated the market was pausing from its rally,
data showed Japan's economy expanded just 0.3 percent in
April-June, half the pace expected, raising doubts about the
strength of the recovery. Meanwhile, Europe's debt crisis
weighed on worldwide demand.
Global economic weakness has kept alive investors' hopes for
stimulus actions from central banks.
Late on Friday, the president of the San Francisco Federal
Reserve said the Fed should launch a fresh round of bond buying
to lower the U.S. unemployment rate more quickly, fuelling
speculation that the central bank could soon unveil a new round
of quantitative easing.
The benchmark S&P index has risen 2.99 percent over the past
six sessions, its longest rally since December 2010, but the
index has risen only 0.3 percent in the past three sessions as
the S&P hovers near levels not seen since early May.
"The market has had a small, positive consolidation just
above the key 1,400 level, with no clear theme in either
direction. The market is biding time," said Andre Bakhos,
director of market analytics at Lek Securities in New York.
"With no economic data scheduled today, investors will look
to the rest of a busy week for more direction."
S&P 500 futures were up 0.5 point and were roughly
even with 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 were
unchanged and Nasdaq 100 futures added 3.5 points.
Swiss private bank Julius Baer is to buy Bank of
America's Merrill Lynch wealth manager outside the
United States, paying 860 million Swiss francs ($882 million)
for the loss-making business to boost its assets managed by 40
percent and backing the deal with plans to raise 1.19 billion
Swiss francs ($1.22 billion) in new capital. Bank of America
shares gained 0.8 percent to $7.80 in premarket trading.
Motorola Mobility has told employees it plans to slash 20
percent of its workforce and shut down nearly a third of its
offices worldwide, the New York Times reported. Shares of parent
company Google Inc advanced 1.5 percent to $651.61 in
trading before the open.
European shares pared their losses in very light trade as
investors weighed concerns over global economic growth against
expectations of further central bank stimulus. [ID:.EU}
Asian shares edged lower as the Japan data provided
investors with further evidence of slowing global growth.
Sysco Corp on Monday is set to be the first S&P 500
company of the 22 index components to post earnings this week.
According to Thomson Reuters data, of the 449 companies in
the S&P 500 that have reported second-quarter earnings to date
68 percent have reported earnings above analyst expectations,
matching the beat rate for the last four quarters.