US STOCKS-S&P flat before Fed; growth concerns weigh
* Fed minutes to be eyed for clues about more stimulus
* U.S. May trade deficit narrows on exports, cheaper oil
* Market caution ahead of China GDP data
* Dow off 0.3 pct, S&P flat, Nasdaq off 0.4 pct (Updates to midday)
By Angela Moon
NEW YORK, July 11 (Reuters) - The S&P 500 was little changed on Wednesday as investors awaited minutes of a Federal Reserve meeting to see if officials are worried about the slowing global economy and offer clues about more monetary stimulus.
The broad market index has fallen about 2.4 percent after four straight days of declines on concerns about a slowdown in global growth, underscored by U.S. corporate profit warnings.
Investors will closely examine the minutes of the Fed's June meeting, due for release at 2 p.m. (1800 GMT), for insight on a possible third round of major bond purchases by the Fed, or quantitative easing, aimed at boosting the economy.
"The market will focus to see if the minutes contain phrases that acknowledge the growing weakness globally and how that is impacting the U.S.," said Jim Russell, chief equity strategist at U.S. Bank Wealth Management.
But on Tuesday, St. Louis Federal Reserve Bank President James Bullard said the economy is still some way from needing more asset-buying stimulus.
The Dow Jones industrial average was down 33.53 points, or 0.26 percent, at 12,619.59. The Standard & Poor's 500 Index was down 0.89 point, or 0.07 percent, at 1,340.58. The Nasdaq Composite Index was down 12.62 points, or 0.43 percent, at 2,889.71.
The S&P's run of declines marks the longest losing streak for the benchmark index since May. A slew of corporate earnings warnings underscored investors' concerns the sluggish global economy would impact profits.
Investors are looking ahead to China's second-quarter gross domestic product data due on Friday.
Weak volume has contributed to recent market volatility, with some of the lowest daily trading volumes of the year coming within the past week.
"With uncertainty surrounding the health of the global economy and most searching for a quicker solution to the sovereign debt crisis than politicians can devise, there is a lack of willingness to put fresh trading strategies to the test," said Andrew Wilkinson, chief economic strategist at Miller Tabak & Co.
Technolgy stocks were the biggest decliners. Microsoft shares were down 1.1 percent at $29.40.
Hhgregg Inc plunged 38.5 percent to $7.10 after the electronics retailer forecast a wider-than-expected loss for the first quarter and cut its full-year outlook. Rival Best Buy Co Inc slumped 5.7 percent to $19.95.
Marriott International is set to release its second-quarter earnings after markets close, a day after the leading hotel and lodging operator signed an agreement to open its first hotel in Sri Lanka. Marriott shares were up 0.3 percent at $38.27.
Data showed the U.S. trade deficit narrowed by 3.8 percent in May, helped by a rise in exports, including those bound for Europe and China, but economists warned it might not last.
(Reporting By Angela Moon; Editing by Kenneth Barry)
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