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Futures: Dow down 0.14%, S&P 500 down 0.06%, Nasdaq up

0.15%

June 17 (Reuters) - U.S. stock index futures were mixed

in muted trading on Monday as investors awaited fresh economic

data and comments from Federal Reserve officials for more

clarity on monetary policy.

S&P 500 futures retreated slightly after hitting

multiple record highs in the previous week, while the tech-heavy

Nasdaq inched up as megacap stocks including Apple ( AAPL ),

Microsoft ( MSFT ) and Nvidia ( NVDA ) rose between 0.2% and

0.6%.

The blue-chip Dow was the only one of the three major

indexes to post weekly declines on Friday, while the Nasdaq

notched its fifth consecutive record closing high and

posted gains of 3.2% for the week.

Some investors, however, have been concerned about the

sustainability of the equity rally as megacap growth and

technology stocks were behind most of Wall Street's gains this

year.

Goldman Sachs still raised its 2024 year-end target for the

S&P 500 Index to 5,600 from 5,200 earlier, representing

about a 3.1% upside to the index's last close.

On the economic roster for the week are May retail sales

data on Tuesday, with industrial production, housing starts and

S&P flash PMI data among other key releases due later in the

week.

The New York Fed's Manufacturing survey is expected before

markets open on Monday. Comments from the New York Fed's John

Williams and the Philadelphia Fed's Patrick Harker are also

expected later in the day.

Recent hawkish projections from the Federal Reserve have

somewhat contrasted several data releases pointing to growing

weakness in the economy. The central bank dialed back their

projections for three rate cuts in 2024 to just one on

Wednesday.

However, market pricing still shows expectations of around

two 25 basis point cuts this year, according to LSEG data. The

CME FedWatch tool shows easing is still seen

beginning at the September meeting.

"Chair Jerome Powell characterized the U.S. consumer as

'solid' and unless there is another downside surprise here, we

cannot see market pricing of 1-1/2 Federal Reserve rate cuts

this year moving substantially," analysts at ING said in a note.

Minneapolis Fed President Neel Kashkari said one Fed rate

cut in December was a "reasonable prediction" in an interview on

Sunday.

At 5:48 a.m. ET, Dow e-minis were down 55 points,

or 0.14%, S&P 500 e-minis were down 3 points, or 0.06%,

and Nasdaq 100 e-minis were up 29.5 points, or 0.15%.

Autodesk ( ADSK ) shares jumped 4% after a report that

activist investor Starboard Value had bought a roughly $500

million stake in the software maker.

A shorter trading week is on deck as markets will be closed

on Wednesday.

(Reporting by Lisa Mattackal in Bengaluru; Editing by Devika

Syamnath)