* S&P 500 closed at record Thursday, on track for strong Feb
* Fourth-quarter GDP data on tap, seen rising 2.5 pct
* Salesforce.com raises revenue outlook, shares up
* Futures down: Dow 24 pts, S&P 3.7 pts, Nasdaq 5 pts
By Ryan Vlastelica
NEW YORK, Feb 28 U.S. stock index futures dipped
on Friday, with investors reluctant to make big bets after the
S&P 500 closed at a record and ahead of closely watched data on
* The benchmark index closed barely in positive territory
for the year on Thursday, ending at a record above a level that
has served as resistance this week. All three major indexes are
set to end February and the week with gains, and the Nasdaq is
on track for its fourth straight weekly rise.
* A preliminary estimate on fourth-quarter gross domestic
product, due at 8:30 a.m. EST (1330 GMT), is expected to show
growth of 2.5 percent. Market participants will look for signs
of whether a severe winter hurt growth in the quarter.
* Recent indicators have come in below forecasts, with many
analysts pinning that to bad weather rather than worsening
fundamentals. Stocks rose on Thursday after Federal Reserve
Chair Janet Yellen indicated support for this theory.
* The February Chicago Purchasing Managers Index is also on
tap, as is the final February reading on consumer sentiment from
the Thomson Reuters/University of Michigan Surveys of Consumers.
The PMI report, due at 9:45 a.m. EST, is seen falling to 57 from
59.6 last month, while sentiment is expected to be flat.
* S&P 500 futures fell 3.7 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 24
points and Nasdaq 100 futures lost 5 points.
* For the month, the Dow is up 3.7 percent, the S&P is up 4
percent and the Nasdaq is up 5.2 percent. For the week, the Dow
is up 1.1 percent, the S&P is up 1 percent and the Nasdaq is up
* Salesforce.com Inc late Thursday raised its
full-year revenue forecast and said it was looking to improve
its adjusted operating margin. Shares rose 1 percent to $66.88
before the bell.
* Gap Inc late Thursday reported earnings that beat
expectations, though the apparel retailer said it expected
unfavorable currency exchange rates will hit its full-year
* Jos. A. Bank Clothiers Inc late Thursday rejected
Men's Wearhouse Inc's revised takeover offer, calling it
inadequate, though it was willing to talk about a higher bid.
* Toy maker Mattel Inc agreed to buy Canada's Mega
Brands Inc for about $460 million.
* In her testimony before the Senate Banking Committee,
Yellen said it would take a "significant change" to the
economy's prospects for the central bank to put plans to reduce
its bond-buying program on hold.
* On Friday, Dallas Federal Reserve Bank President Richard
Fisher said the central bank should halt its stimulus as soon as
circumstances make it possible.