* S&P 500 closed at record Thursday, on track for strong Feb
* Fourth-quarter GDP rises 2.4 pct, below estimate
* Citigroup lowers 2013 profit as a result of fraud
* Salesforce.com raises revenue outlook, shares up
* Futures down: Dow 6 pts, S&P 2 pts, Nasdaq 2 pts
By Ryan Vlastelica
NEW YORK, Feb 28 U.S. stock index futures
pointed to a slightly lower open on Wall Street Friday, with the
S&P 500 coming off a record close and after the U.S. government
slashed its estimate for fourth-quarter economic growth.
* GDP was estimated to have grown at an annual rate of 2.4
percent in the quarter, the Commerce Department said, down
sharply from its estimate last month of 3.2 percent growth, and
4.1 percent in the third quarter. Analysts had expected growth
of 2.5 percent.
* The report was the latest in a string of indicators to
come in below forecasts, which many analysts have pinned to a
severe winter rather than worsening fundamentals. Stocks rose on
Thursday after Federal Reserve Chair Janet Yellen indicated
support for this theory.
* The S&P 500 closed barely in positive territory for the
year on Thursday, though it still ended 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.
* Also set for release Friday are the February Chicago
Purchasing Managers Index and a 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.
* Citigroup Inc said it would lower its previously
announced 2013 net income from $13.9 billion to $13.7 billion
due to recently discovered fraud at a unit in Mexico. Shares
fell 0.7 percent to $48.36 in premarket trading.
* S&P 500 futures fell 2 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 6
points and Nasdaq 100 futures lost 2 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 reported earnings Thursday that beat
expectations, though the apparel retailer expected unfavorable
currency exchange rates to hurt full-year profit. Shares were
slightly lower in light premarket trading.
* 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.
Shares of Jos. A. Bank rose 4.1 percent to $62.75 while Men's
Wearhouse was up 4.1 percent at $52.49.
* Toy maker Mattel Inc agreed to buy Canada's Mega
Brands Inc for about $460 million.
* In 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.