US STOCKS-Wall St set for weak open as rally reassessed

* September durable goods data in line with expectations

* ArcelorMittal, SAP report disappointing results

* Visa rises after results, stock buyback

* Futures down: S&P 4.4 pts, Dow 38 pts, Nasdaq 2.5 pts

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

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By Leah Schnurr

NEW YORK, Oct 28 (Reuters) - Wall Street was poised for a lower open on Wednesday after disappointing results from overseas bellwethers, while investors questioned how much further the market's seven-month rally had to run.

S&P futures briefly added to losses after data showed U.S. new orders for long-lasting manufactured goods rose 1 percent in September, in line with expectations. For details, see [ID:nN27254641]

"In a recovering economy, you'll get three steps forward and then two steps back. That's what you're seeing here," said David Katz, chief investment officer at Matrix Asset Advisors in New York.

"We wouldn't read anything into the breather we've been having, and we would use any weakness to build our positions on the expectation that we'll have a strong end to the year."

Japan's Nikkei average hit its lowest close in two weeks on Wednesday in the wake of Wall Street's losses in the previous session. European stocks were down about 1.4 percent after disappointing results from ArcelorMittal (ISPA.AS) and SAP (SAPG.DE) dented hopes of a quick rebound in corporate earnings.

S&P 500 futures SPc1 fell 4.40 points 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 lost 38 points, while Nasdaq futures NDc1 were off 2.50 points.

Investors will also take in new home sales data for September at 10:00 am (1400 GMT). New home sales are forecast to rise to a seasonally adjusted annual rate of 440,000 units.

Visa Inc (V.N) rose in premarket trades the day after it posted a stronger-than-expected quarterly profit, raised its dividend and authorized a stock-buyback plan. Shares of the world's largest payment network were up 1.7 percent at $75.15. [ID:nN27264293]