* Markets seek direction after rise to all-time high
* Home Depot rises after results, Macy's falls
* Data on consumer confidence, home prices on tap
* Futures down: Dow 30 pts, S&P 3.8 pts, Nasdaq 5 pts
By Ryan Vlastelica
NEW YORK, Feb 25 U.S. stock index futures edged
lower on Tuesday, with investors finding few reasons to buy
following a rally that took the S&P 500 to an all-time intraday
* Monday's advance to record levels fully erased the S&P's
biggest pullback in more than a year and raised new questions
about what catalysts will drive shares decisively higher from
here. Despite Monday's climb, Wall Street ended off its highs
and the S&P failed to close at a record.
* While the market's upward trend is still viewed as intact,
valuation concerns have been raised following a string of
economic data that came in below forecasts. While many analysts
pin the weakness to harsh winter weather rather than weakening
fundamentals, trading are looking for evidence the market's
levels are justified.
* Home Depot Inc rose 1.6 percent to $79.15 in
premarket trading after the Dow component's earnings beat
expectations, though sales fell more than expected in the fourth
* On the downside, Macy's Inc fell 2.1 percent to
$51.94 after the retailer reported a drop in January sales,
though its fourth-quarter earnings rose from the prior year.
* Market participants will be closely monitoring February
consumer confidence data, due out at 10:00 a.m. EST (1500 GMT),
as well as a read on home prices with December Case-Shiller data
at 9:00 a.m. Confidence is seen dipping slightly from the prior
month, while home prices are seen rising 0.6 percent.
* Many traders are looking ahead to Thursday, when Federal
Reserve Chair Janet Yellen will speak to the Senate Banking
Committee in semi-annual testimony about monetary policy. The
comments will be scoured for insight into how much bad weather
has affected economic activity, as well as for confirmation the
Fed will not change its schedule for trimming stimulus.
* S&P 500 futures fell 3.8 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 lost 30
points and Nasdaq 100 futures slid 5 points.
* Tenet Healthcare Corp late Monday swung to a net
loss in its fourth quarter, though adjusted earnings were better
* Biocryst Pharmaceuticals Inc rose 3.3 percent to
$11.99 in light premarket trading after the company said the
Food and Drug Administration had accepted the New Drug
Application for its Peramivir product.
* Sina Corp shares fell in premarket trading a day
after the company reported adjusted earnings that beat estimates
by a penny, even as revenue jumped 43 percent.
* SolarCity Corp, the largest residential solar
installer in the United States, said it expects to install fewer
panels in a seasonally weak first quarter due to cold weather.
* Perry Ellis International Inc late Monday
forecast a fall in quarterly revenue, sending shares sharply
lower after the market closed.