* Chicago PMI on tap at 9:45 a.m. EST
* Kaufman Bros upgrades Marvell, Nvidia
* Futures down: S&P 4.5 pts, Dow 50 pts, Nasdaq 7.75 pts
* For up-to-the-minute market news, click STXNEWS/US
(Writes through, add quote, details, byline)
By Leah Schnurr
NEW YORK, Dec 30 (Reuters) - U.S. stock index futures fell
on Wednesday, taking a cue from a decline in global markets, as
investors found little reason to propel stocks higher as the
market's solid year draws to a close.
Airline stocks could see interest after Japan Airlines Corp
<9205.T> tumbled as much as 32 percent to a record low on
growing expectations the struggling carrier will be
restructured in bankruptcy court. American Airlines <AMR.N> and
Delta Air Lines <DAL.N> have been courting JAL with rival
offers of financial aid. For details, see []
Semiconductor shares could see action after Kaufman Bros
upgraded Marvell Technology Group Ltd <MRVL.O> and Nvidia Corp
<NVDA.O> to "buy" and said the chipmakers could benefit from
improved demand for personal computers. []
Action is expected to be muted through the shortened week,
with investors cooling their heels after a nearly 25 percent
run-up for the S&P 500 this year.
"There are some people that have made some money this year
that have made some good bets, and at the end of the year
they're going to take profits," said Tommy Williams, president
of Williams Financial Advisors in Shreveport, Louisiana.
"Trading is going to be so light as we're winding the year
down."
S&P 500 futures <SPc1> 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 futures <DJc1> lost 50
points, and the Nasdaq 100 futures <NDc1> gave up 7.75 points.
Overseas, European shares slipped in thin trading
Wednesday, while Tokyo's Nikkei <> dropped nearly 1
percent in its last trading session of the year. The Nikkei
booked a 19 percent gain for 2009, and the pan-European
FTSEurofirst 300 <> was on track for a 26 percent advance
for the year.
On the data front, the Institute for Supply
Management-Chicago's business barometer for the U.S. Midwest
will be released at 9:45 a.m. EST (1445 GMT). Economists expect
a December reading of 55 compared to 56.1 the month before,
according to Reuters data.
Shares in financial institutions could be in the spotlight
after the Wall Street Journal reported that GMAC Financial
Services is close to getting about $3.5 billion in additional
government aid on top of the $12.5 billion it has received
since December 2008. []
Pfizer Inc <PFE.N> may be in focus after the drugmaker said
Tuesday it ended a late-stage lung cancer study for its
experimental drug figitumumab. []
Broadcom Corp <BRCM.O> said late Tuesday it will pay $160.5
million in cash to resolve an investor lawsuit over improperly
backdated stock options. []
U.S. stocks broke a six-day winning streak on Tuesday,
closing slightly lower on low volume.
