Schacknow - TODAY'S PRIMER , June 14, 2012

                           
Peter Schacknow, Senior Producer, CNBC Breaking News Desk

Wall Street has put in a back-and-forth week so far, reflecting investor uncertainty over Europe. That uncertainty could well continue today, especially with the Greek elections looming this weekend. The Nasdaq and S&P 500 have alternated between gains and losses for the past six sessions, with stock index futures currently not indicating strong sentiment in either direction.

Investors will be hit with a triple dose of economic data at 8:30am ET, with the latest initial claims, current account deficit, and Consumer Price Index all out at once.

Economists are looking for first time jobless claims of 375,000 for the week ending June 9, compared to 377,000 the prior week.

May CPI is seen falling 0.3 percent compared to an unchanged reading in April, with the core rate expected to match the prior month’s rise of 0.2 percent.

And the first quarter current account deficit is expected to come in at $134 billion, compared to $124.1 billion in the prior quarter.

The Energy Department is out with its weekly look at natural gas inventories at 10:30am ET, while the Treasury will be selling $13 billion in 30-year bonds. The results of that auction will be available shortly after 1pm ET.

A light earnings calendar does have some notable names this morning, with supermarket giant Kroger (KR), retailer Pier 1 Imports (PIR), food producer Smithfield Foods (SFD), and recreational vehicle maker Winnebago (WGO) scheduled to report before the opening bell.

Nokia (NOK) leads our list of stocks to watch this morning, as the handset maker warns that its second quarter loss will be wider than expected, as well as announcing that it plans to cut another 10,000 jobs globally.

comScore reports that Yahoo (YHOO) lost search market share for the 9th consecutive month in May. It now has a 13 percent share, trailing Google’s (GOOG) 67 percent and Microsoft’s (MSFT) Bing at 15 percent.

Dow component United Technologies (UTX) has raised its quarterly dividend 11.5 percent to $0.48 per share. The increase is the company’s first since April of last year.

Ctrip (CTRP) has announced a share repurchase program of up to $300 million involving the China travel agency’s American Depositary Shares.

Edwards Lifesciences (EW) has won FDA panel approval for a new artificial heart valve that can be inserted without performing open heart surgery. The FDA usually – but not always – follows the recommendations of its panels.

Supervalu (SVU) is getting a further boost on takeover talk, following a more than 2 percent gain in Wednesday’s trading session. Barclays analyst Meredith Adler wrote a report this week suggesting that the supermarket chain has become a particularly cheap leveraged buyout target.

Best Buy (BBY) shares have been upgraded to “neutral” from “sell” at Citi, with the firm saying there’s now a more balanced risk/reward ratio following a 35 percent pullback since March 24.