Wall Street to open flat after weak data

NEW YORK (Reuters) - U.S. stocks were set to open little changed on Wednesday following weak industrial orders data, with deals indicating investors still see value in the market despite indexes trading near all-time highs.

Futures barely budged after durable goods orders unexpectedly fell in February, data which pushed the dollar index lower <.DXY>. A weak dollar has been supportive of stocks of late as it eases fears that its steep rally will hurt corporate earnings.

The dollar's rally from last year has been based on expectations that a stronger U.S. economy is pushing the Federal Reserve closer to raising rates.

?Bad economic news is taking the wind out of the sails with respect to a rate hike in June,? said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

"The market loves a zero interest rate policy."

S&P 500 e-mini futures were up a point and fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract, indicated a flat open. Dow Jones industrial average e-mini futures <1YMc1> fell 6 points and Nasdaq 100 e-mini futures added 6 points.

Kraft Foods jumped 34 percent in premarket trading after a merger agreement with ketchup maker H.J. Heinz Co, owned by 3G Capital and Berkshire Hathaway . Kraft Heinz Co will trade publicly and will be the third-largest food company in North America.

Kofax Ltd rallied 46 percent premarket after Lexmark International , known for its printers, said it would buy Kofax in a deal of about $1 billion that would double the size of its enterprise software business. Lexmark shares jumped 7.9 percent.

(Reporting by Rodrigo Campos; Editing by Chizu Nomiyama and Nick Zieminski)

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