US STOCKS-Futures flat after large weekly loss
* Urban Outfitters earnings due
* U.S. 10-year yield hits fresh 2-yr high
* Futures: Dow up 4 pts, S&P off 1 pt, Nasdaq down 5 pts
NEW YORK, Aug 19 (Reuters) - U.S. stock index futures were little changed Monday, following the Dow industrials' largest weekly drop in more than a year, as traders positioned for an expected move from the Federal Reserve to scale back its economic stimulus.
* Bets that the Fed would begin to wind down its $85 billion a month asset purchases were seen in other markets, and the U.S. benchmark 10-year yield rose to a fresh two-year high of 2.875 percent.
* The higher yield could further hurt dividend-paying, low-growth equity sectors like utilities and health care. Last Friday, the S&P 500 health care sector saw its largest weekly drop since November 2011.
* With little expected this week in the way of economic indicators, market participants are focused on the minutes of the latest Fed meeting, expected on Wednesday.
* S&P 500 futures fell 1 point and were flat in terms of 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 rose 4 points, and Nasdaq 100 futures lost 5 points.
* A federal bribery investigation into whether JPMorgan Chase & Co hired the children of key Chinese officials to help it win business is the latest in a series of legal and regulatory headaches for Chief Executive Jamie Dimon.
* There are no major economic indicators due for release on Monday. Urban Outfitters is the only S&P 500 company scheduled to report results.
- Target stores' customers hit by major credit card attack
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Facebook, Zuckerberg, banks must face IPO lawsuit: judge
- U.S. prosecutor defends treatment of Indian diplomat |
- Fed cuts bond buying in first step away from historic stimulus |