US STOCKS-Futures little changed as technical levels eyed

* Deere profit tops estimates

* S&P 500 trades around 50-day moving average

* Futures: S&P down 0.4 pt, Dow up 4, Nasdaq down 3.25

* For up-to-the-minute market news see [STXNEWS/US]

NEW YORK, Aug 18 (Reuters) - U.S. stocks index futures were flat on Wednesday as the S&P 500 struggled to push above a key technical level amid continued concerns about the health of the economy.

* The broad-based S&P has traded around its 50-day moving average for the last four days after falling sharply last week following a bleak assessment of the economy from the U.S. Federal Reserve. The 50-day average is currently about 1,088.

* Investors have been torn between signs the economy is slowing and better corporate results.

* Deere & Co (DE.N) reported stronger-than-expected quarterly profit early Wednesday, helped by robust demand for its biggest tractors and harvesters in the United States. [ID:nN18179869]

* Target Corp (TGT.N) also reported quarterly results early Wednesday. [ID:nASA00O4W]

* Applied Materials Inc (AMAT.O), Limited Brands Inc (LTD.N) and NetApp Inc (NTAP.O) are among key U.S. companies due to report later Wednesday.

* S&P 500 futures SPc1 fell 0.4 point and were below 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 DJc1 rose 4 points, and Nasdaq 100 futures NDc1 lost 3.25 points.

* Investors will watch developments in this year's biggest takeover attempt as BHP Billiton Ltd (BHP.AX)(BLT.L), the world's largest mining group, launched a hostile $39 billion bid for Potash Corp of Saskatchewan Inc (POT.TO)(POT.N) after the Canadian fertilizer group's board rejected its offer. For details, see [ID:nN22340110]

* U.S. mortgage applications leaped to its highest level in 15 months last week as rock-bottom rates lifted demand for home refinancing loans, the Mortgage Bankers Association said. [ID:nNLLHJE6CN]

* Resource-related stocks will be in focus after crude oil futures fell 1.3 percent as petroleum inventories in the United States headed for a record, following an unexpected sharp increase in crude stocks last week.

* Copper was little changed after hitting a one-week high earlier in the session as inventory declines offset concerns about slowing demand in top metals consumer China. [ID:nLDE67H0V5]

* China's banking regulator has told banks in Beijing to test for the impact of a plunge in property values below what is owed on mortgages, a local newspaper reported. [ID:nTOE67H02R]

* Analog Devices Inc ADI.N shares advanced 1.7 percent in extended trade on Tuesday after the microchip maker posted quarterly results that topped estimates and gave a better-than-expected outlook. [ID:nSGE67G0J2]

* European stocks .FTEU3 dipped in early trade, with a key index failing to stay above a resistance level pierced in the previous session. Heavyweight energy shares fell along with oil prices.

* Japan's Nikkei average .N225 rose nearly 1 percent a day after the index hit an eight-month closing low, though increases were limited by yen strength against the dollar.

* U.S. stocks rose Tuesday as earnings from Wal-Mart and Home Depot and a $39 billion takeover bid in the agriculture sector bolstered confidence in the corporate outlook. (Reporting by Edward Krudy; editing by Jeffrey Benkoe)