Stock futures flat after weak Japan economic growth data

NEW YORK (Reuters) - Stock index futures were flat on Monday, indicating the S&P 500 index may snap a six-day winning streak, after data in Japan curbed recent investor optimism about the prospects for robust global economic growth.

Japan's economy expanded just 0.3 percent in April-June, half the pace expected, raising doubts about the strength of the recovery as a rebound in consumer spending loses momentum and Europe's debt crisis weighs on worldwide demand.

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, it's longest rally since December 2010, but the index has risen only 0.3 percent in the past three sessions as the index hovers near three-month highs.

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 up 1 point and Nasdaq 100 futures added 3.5 points.

Swiss private bank Julius Baer is to buy Bank of America's non-U.S. Merrill Lynch wealth manager, 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.

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 1.6 percent to $651.94 in premarket trade.

European shares pared their losses in very light trade, as investors weighed up concerns over global economic growth with expectations of further central bank stimulus.

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 set 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.

(Reporting by Chuck Mikolajczak Editing by W Simon)