* Perrigo to buy Elan, Lord & Taylor's parent to acquire
* Pending-home sales data due
* Futures off: Dow 26 pts, S&P 3.9 pts, Nasdaq 6.75 pts
NEW YORK, July 29 U.S. stock index futures
dipped on Monday as a week packed with data and central bank
meetings gets under way, with the S&P 500 just 0.2 percent below
its record close set a week ago.
* Investors will focus on Wednesday's statement from the
Federal Reserve for clarity on when the Fed will begin to wind
down its stimulus. The European Central Bank and the Bank of
England will also meet this week.
* Data on the housing and industry sectors are scheduled in
the first half of the week, followed by gross domestic product
for the second quarter on Wednesday and the key payrolls report
expected on Friday. The National Association of Realtors issues
pending home sales for June at 10 a.m. (1400 GMT) on Monday.
* Merger activity could give equities some support as big
deals show that large investors see value in the market. On
Monday, U.S. drugmaker Perrigo agreed to buy Elan
for $8.6 billion. U.S.-traded Elan shares jumped
8 percent to $16.17 in premarket trading.
* Hudson's Bay Co, operator of department store
chains Lord & Taylor in the United States and The Bay in Canada,
said it would buy luxury retailer Saks Inc for $16 per
share. Saks shares rose 3.9 percent to $15.91 in premarket
* S&P 500 futures fell 3.9 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 26
points, and Nasdaq 100 futures lost 6.75 points.
* On the earnings front, hotel, energy and financial
services conglomerate Loews Corp posted a jump in
second-quarter profit as revenue from its insurance arm, CNA
Financial, increased nearly 13 percent.
* Halfway through earnings season, 67.6 percent of S&P 500
companies have beaten analysts' expectations - in line with the
67 percent average beat in the last four quarters. About 56
percent of the companies have beaten revenue expectations, more
than the 48 percent of revenue beats in the past four earnings
seasons but below the historical average.
* Wynn Resorts shares fell 1.5 percent in light
premarket trading after the casino developer and operator missed
Wall Street estimates.