* Micron falls in premarket despite bullish results
* Data on housing, consumer confidence on tap
* Futures down: Dow 23 pts, S&P 4.5 pts, Nasdaq 7.5 pts
By Ryan Vlastelica
NEW YORK, June 24 U.S. stock index futures fell
on Tuesday, suggesting investors continued to search for
direction following a sharp rally that took indexes to records
* Equities had a quiet session on Monday, with trading
volume light and moves so slight the S&P 500 had one of its
narrowest intraday trading ranges ever, according to MKM
Partners. That came after a six-day rally on the S&P that ended
Friday, its longest streak since mid-April.
* While Wall Street's trend upward was still viewed as
intact, investors looked for fresh catalysts to justify more
robust gains, and recent economic data has been mixed.
* The latest economic indicators could give the market
direction, with the April Case-Shiller report on home prices
scheduled for release at 9:00 a.m. EDT (1300 GMT) and data on
both consumer confidence and home sales due at 10:00 a.m.
* Confidence is seen coming in at 83.5 in June, little
changed from 83 in May, while new home sales are seen rising
modestly in May; this follows Monday's much
stronger-than-expected report on May existing home sales. Home
prices, based on the S&P/Case-Shiller composite index, are seen
up 0.8 percent in April.
* S&P 500 e-mini futures fell 4.5 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 e-mini futures
fell 23 points and Nasdaq 100 e-mini futures lost
* Micron Technology Inc late Monday reported
third-quarter results and a revenue outlook that both exceeded
analysts' expectations. The stock, which is up 43.7 percent this
year and more than tripled over 2013, edged 1.6 percent lower to
$30.75 in premarket trading.
* Abbott Laboratories agreed to buy Russian
drugmaker Veropharm for up to $495 million.
* Bloomberg reported that Apple Inc suppliers will
begin producing larger versions of the iPhone in China next
month. The stock dipped slightly in premarket trading.
* Investors continued to eye geopolitical tensions in Iraq
and Ukraine. German business sentiment weakened more than
expected in June as concern grew among companies in Europe's
largest economy that tensions in the regions would hurt their
(Editing by Bernadette Baum)