(Bloomberg) -- U.S. stock-index futures were little changed amid corporate merger activity following the biggest decline for the Standard & Poor’s 500 Index in two weeks. Kraft Foods Group Inc. jumped 25 percent in early New York trading after saying it will merge with ketchup maker H.J. Heinz. The news also sent peer Mondelez International Inc. higher. Kofax Ltd. soared 46 percent after agreeing to be acquired by Lexmark International Inc. Lexmark added 7.9 percent. E-mini contracts on the S&P 500 expiring in June fell 0.1 percent to 2,083.5 at 6:34 a.m. in New York. The benchmark gauge retreated for a second day on Tuesday, as a report on consumer prices showed signs inflation is perking up. Dow Jones Industrial Average futures lost 0.1 percent to 17,924 today. “Central banks are still very much in the driver’s seat,� said Alessandro Bee, a strategist at Bank J Safra Sarasin in Zurich. “The Fed turned more dovish last week and stocks really liked that, but all this is still very dependent on what happens to the economy in the next months. In the short-term, it’s a good time to wait for more clarity.� The S&P 500, the Dow and the Nasdaq Composite Index are trading within 1.5 percent of their records amid speculation the Federal Reserve won’t rush to raise rates. Investors are watching economic reports for clues on the timing of the Fed’s move, with Commerce Department data at 8:30 a.m. in Washington projected to show durable-goods orders rose last month at a slower pace than in January. Economic Expansion On Friday, a report will likely show the world’s largest economy expanded at a rate of 2.2 percent in the first quarter, economists surveyed by Bloomberg forecast. The pace will pick up in the second quarter to 3 percent, they predict. While the S&P 500 is among the worst-performing developed-market indexes this year, it is still headed for its ninth consecutive quarterly advance. That would be the longest winning streak since 1998. The gains pushed equity valuations to the highest in about six years. Analysts predict profit for S&P 500 members will drop in the next three quarters, hurt by worse-than-expected economic data, lower oil prices and a surge in the dollar. Annual earnings will probably gain 1.8 percent in 2015, down from a January forecast for a 6.4 percent jump. Tesla Motors Inc. dropped 2.2 percent after CLSA Ltd. downgraded the stock to underperform, the equivalent of a sell rating. Finish Line Inc. fell 1.1 percent after B. Riley & Co. cut its rating on shares of the athletic-shoe retailer. To contact the reporter on this story: Sofia Horta e Costa in London at shortaecosta@bloomberg.net To contact the editors responsible for this story: Cecile Vannucci at cvannucci1@bloomberg.net Trista Kelley

Source