* Micron rises in premarket after results
* Vertex soars on massive volume after clinical trial
* Data on housing, consumer confidence on tap
* Dow down 12 pts, S&P down 2.5 pts, Nasdaq up 0.75 pt
(Adds Vertex and Walgreen news, updates prices)
By Ryan Vlastelica
NEW YORK, June 24 U.S. stock index futures
pointed to a flat open on Tuesday, suggesting investors
continued to search for direction following a sharp rally that
took indexes to records last week.
* 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.
* The confidence measure 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 2.5 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 12 points and Nasdaq 100 e-mini futures rose
* 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 in 2013, rose 1.7 percent to $31.78
in premarket trading.
* Vertex Pharmaceuticals Inc soared in heavy
premarket trading. The company said a combination of drugs
designed to treat cystic fibrosis succeeded in improving lung
function in a pair of closely watched late-stage clinical
* Walgreen Co fell 2.3 percent to $72 before the
bell after third-quarter results.
* 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 rose 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 and Nick Zieminski)