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By Bloomberg

U.S. stock-index futures were little changed, after a third day of declines dragged the Standard & Poor’s 500 Index to a two-month low.

American Airlines Group Inc. slipped 1.4 percent after trimming forecasts on second-quarter margins and a key revenue gauge. Lululemon Athletica Inc. rose 2.3 percent after the yogawear maker boosted its full-year outlook and reported first- quarter profit that topped analysts’ estimates.

S&P 500 E-mini contracts expiring this month fell 0.1 percent to 2,077 at 8:34 a.m. in New York, after earlier sliding as much as 0.5 percent. The underlying index is down 2.4 percent since it last closed at a record on May 21. Dow Jones Industrial Average futures dropped 10 points to 17,758.

“It’s like we’re all waiting for a catalyst but we don’t really know where to look,” said Richard Hunter, head of equities at Hargreaves Lansdown Plc in London. “Everyone’s trying to double guess when the Fed’s interest-rate hike will be and mixed data has not really made it too clear. You could buy on dips given the recent selloff, but you can also come up with a bunch of reasons not to invest.”

Reports on consumer sentiment and retail sales are due this week, both of which are forecast to show an improving economy. Jobs data last week showed the strongest hiring in five months and the biggest wage gains in two years, bolstering bets the Federal Reserve will raise interest rates this year.

Rising Volatility

Investors are also looking for signs of progress in Greece’s debt talks. The country submitted fresh proposals to its creditors in a bid to unlock bailout funds with just three weeks to go before its financial safety net expires. Greece last week rejected a set of policy measures hammered out by creditor institutions, while creditors rebuffed a separate plan put forward by Greece.

A gauge of stock volatility has been steadily rising, closing at the highest level in more than two months on Monday. The Chicago Board Options Exchange Volatility Index has jumped 26 percent since this year’s low in May, and is trading above its average level for the past 12 months.

Just as U.S. stocks threaten to give up their gains for the year, an indicator measuring how many companies are keeping the stock market aloft fell to its lowest level in eight months. So few shares have been left behind in the bull market that chart analysts view any sign that breadth is breaking down with concern.