* Dollar Tree offers to buy Family Dollar for $9.2 bln
* June pending home sales on tap, seen rising 0.5 pct
* S&P 500 less than 1 percent from intraday record
* Futures down: Dow 8 pts, S&P 1.25 pt, Nasdaq 0.25 pt
By Ryan Vlastelica
NEW YORK, July 28 U.S. stock index futures were
little changed on Monday as investors looked ahead to the latest
economic data and corporate earnings to give direction to a
market near record levels.
* While merger and acquisition activity gave investors a
reason to buy, there have been a number of high-profile earning
disappointments this quarter, including from Amazon.com
and Caterpillar. Those results have pointed to weak
conditions for market-moving bellwethers, even as more companies
than usual have beaten analyst expectations for both earnings
and revenue this quarter.
* The S&P 500 ended at a record Thursday but fell on Friday,
pressured by Amazon's and Visa Inc's weak results. The
benchmark index is less than 1 percent from an all-time intraday
record, and on Friday, found support at its 14-day moving
average, suggesting a recent positive trend in equities remains
* Dollar Tree Inc offered to buy Family Dollar
Stores Inc for about $9.2 billion, or $74.50 per share
in cash and stock. Shares of Family Dollar jumped 22 percent to
$74 in light premarket trading while Dollar Tree was up 3.7
percent to $56.24.
* S&P 500 e-mini futures fell 1.25 point 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 8 points and Nasdaq 100 e-mini futures lost
* Investors were looking ahead to pending home sales, due at
10:00 a.m. (1400 GMT) Sales are seen rising 0.5 percent in June,
compared with a rise of 6.1 percent in May. Last week, June new
home sales fell 8.1 percent, the biggest drop in almost a year.
* Financial data firm Markit will release its July read on
the U.S. services sector at 9:45 a.m. That is seen falling to
59.8 from 61 in June. Later this week will see the release of
data on second-quarter gross domestic product, as well as the
July payroll report.
* Cisco Systems Inc shares dipped 0.8 percent to
$25.75 before the bell. On Sunday, Pacific Crest downgraded the
stock to "sector perform" from "outperform."
* El Pollo Loco Holdings Inc, a restaurant chain
which went public on Friday, continued the strength of its
trading debut to rise 9.4 percent to $26.29 in premarket
trading. The stock was the Nasdaq's most active premarket mover.
(Editing by Bernadette Baum)