* Caterpillar shares up after reporting better-than-expected
* Apple Inc earnings due after market close
* Home sales data on tap
* Futures up: Dow 9 pts, S&P 60 pts, Nasdaq 11 pts
By Angela Moon
NEW YORK, Jan 27 U.S. stock index futures inched
higher on Monday, setting Wall Street up for a modest rebound
after its worst week since June 2012 with investors focused on
corporate earnings from big names like Caterpillar and Apple.
* Caterpillar Inc shares jumped 4.5 percent in
premarket trade after the bellwether reported
better-than-expected fourth quarter results.
* Apple Inc is due to report earnings after the
bell on Wednesday. The iPhone and iPad maker may notch its most
successful holiday shopping season yet, setting records for
sales of its gift-friendly iPhones and iPads. It will, however,
continue to draw investor scrutiny over sales in
ultra-competitive China, its No. 2 market but a drag on revenue
and margins in recent quarters.
* In economic news, the Commerce Department's new homes
sales numbers for December are due at 10:00 a.m. ET. The Dallas
Fed's manufacturing survey data is due at 10:30 a.m. ET.
* Investors will begin to heavily consider the outcome of
the Federal Reserve's two-day policy meeting that begins on
* Concerns that the Fed may further taper its stimulus
measures have been one of the major reasons for a recent selloff
in the stock market. On Friday, the S&P 500 fell 2.6 percent for
the week, closing below its 50-day moving average for the first
time since Oct. 9, suggesting more selling may be ahead for the
market that closed out 2013 with a 30-percent gain.
* S&P 500 e-mini futures rose 9.1 points and were
above 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 rose
60 points and Nasdaq 100 futures added 10.75 points.
* U.S. mobile group AT&T has ruled out a bid for
Britain's Vodafone for now, with banking sources saying
a U.S. spying scandal and a surge in European telecom shares may
have disrupted a deal that many think could still happen.
U.S.-listed shares of Vodafone fell 4.7 percent in
* Google Inc and Samsung Electronics Co Ltd
, which are frequently involved in patent
infringement lawsuits but not against each other, announced on
Sunday that they have reached a global patent cross-licensing
agreement. Google shares were little changed in premarket trade.