* S&P 500 ends eight-day rally, but stays above 1,500
* Ford, Pfizer up in premarket after posting results
* Consumer confidence, Case/Shiller data on tap
* Futures down: Dow 2 pts, S&P 5.3 pts, Nasdaq 9.5 pts
By Ryan Vlastelica
NEW YORK, Jan 29 U.S. stock index futures edged
lower on Tuesday as investors looked to take profits following
an extended rally and as they waited an onslaught of earnings
* On Monday, the S&P 500 index closed slightly lower, ending
an eight-day run of gains. However, the index remained above
1,500, suggesting there was still support for the market.
* Investors poured $55 billion in new cash into stock mutual
funds and exchange-traded funds in January, the biggest monthly
inflow on record, research provider TrimTabs Investment Research
* The gains have come on a strong start to earnings season.
Thomson Reuters data showed that of the 150 companies in the S&P
500 that have reported earnings so far, 67.3 percent have beaten
analysts' expectations, which is a higher proportion than over
the past four quarters and above the average since 1994.
* Yahoo Inc rose 1.9 percent to $20.70 in premarket
trading a day after reporting adjusted earnings that beat
expectations and forecasting a rise in annual revenue.
* Ford Motor Co jumped 2.4 percent to $14.11 in
premarket trading after reporting results early Tuesday, while
Pfizer Inc rose 0.6 percent to $27 after results.
* Amazon.com Inc is slated to report results after
the market closes.
* Eli Lilly and Co reported adjusted fourth-quarter
earnings and revenue that beat expectations.
* S&P 500 futures fell 5.3 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 fell 2
points and Nasdaq 100 futures slid 9.5 points.
* The Federal Reserve's Open Market Committee begins two
days of meetings on interest rates. Traders speculated more
solid U.S. growth indicators might see the Fed pull back on its
aggressive easing stimulus, which has played a key role in
fuelling an equity market rally since the second half of last
* Investors will also look to the latest economic data for
evidence the recent rally, which took major averages to
five-year highs, was justified.
* January consumer confidence, due at 10 a.m. (1500 GMT) is
seen dipping to 64 from 65.1 in the previous month. The S&P
Case/Shiller Home Price Index for November is seen showing an
increase of 0.6 percent in home prices. Case/Shiller is due at 9
* While the housing market has recently shown signs of
improvement, data released on Monday showed pending home sales
unexpectedly slumped in December.
* U.S. stocks edged modestly lower on Monday. However,
Caterpillar Inc rallied after results, limiting losses
in the Dow, while a rebound in shares of Apple Inc kept
the Nasdaq in positive territory.