* S&P 500, Dow coming off record closing highs
* Investors watch struggling small-cap index
* Deere falls in premarket after results, Macy's up
* Futures down: Dow 17 pts, S&P 3.6 pts, Nasdaq 7.75 pts
(Adds results from Deere and Macy's, details on Yahoo, producer
By Ryan Vlastelica
NEW YORK, May 14 U.S. stock index futures
pointed to a lower open on Wednesday as investors found few
reasons to keep pushing shares higher with the Dow and S&P 500
both coming off record closing highs.
* The S&P rose above 1,900 for the first time on Tuesday,
though it gave up some of its gains in afternoon trading to end
barely higher for a third straight day.
* Investors were looking for fresh catalysts to keep the
market's momentum going amid mixed readings on the economy from
data and corporate earnings, as well as the ongoing threat that
the tension between Russia and Ukraine could escalate into
* Deere & Co shares fell 1.6 percent in premarket
trading after the company cut its forecasts for full-year
agricultural equipment sales even as it reported a
better-than-expected quarterly profit. Macy's Inc rose 1.2
percent in premarket trading after it reported results and
announced a dividend increase of 25 percent.
* Small-cap shares have been in focus lately, with the
Russell 2000 index down 1.1 percent on Tuesday, bucking
an otherwise positive tone on the day. Some analysts are
concerned that persistent weakness in small-caps could spread
throughout the market.
* S&P 500 futures fell 3.6 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 slipped 17
points and Nasdaq 100 futures lost 7.75 points.
* Yahoo Inc bought Blink, a mobile-messaging
startup whose app lets users send messages that will
self-destruct at a time set by the sender, for an undisclosed
* Sears Holding Corp said it would hire an
investment bank to help explore alternatives for its 51 percent
stake in Sears Canada. Shares rose 1.3 percent to
$43.80 in light premarket trading.
* Fossil Group Inc late Tuesday gave a
second-quarter profit outlook that was much lower than expected,
pressured by rising costs. Shares fell 6.9 percent to $103.68 in
* U.S. producer prices posted their largest increase in
1-1/2 years in April as the cost of food and trade services
surged, hinting at some inflation pressures at the factory gate.
* While the situation in Ukraine has not been a primary
market mover this week, investors continue to watch the
situation closely. On Tuesday, pro-Russian separatists ambushed
Ukrainian troops, killing seven in the heaviest loss of life for
government forces in a single clash.
(Editing by Bernadette Baum)