US STOCKS-Futures fall after weak overseas results; data ahead

                                

                                
 * Investors await data on durable goods, new home sales
                                
 * ArcelorMittal, SAP report disappointing results
                                
 * Visa rises after results, stock buyback
                                
 * Futures down: S&P 4.4 pts, Dow 37 pts, Nasdaq 3.5 pts
                                
 * For up-to-the-minute market news, click [STXNEWS/US]
                                
(Adds details, quote, byline)
                                
 By Leah Schnurr
                                
 NEW YORK, Oct 28 (Reuters) - U.S. stock index futures fell
on Wednesday after disappointing results from bellwethers
overseas, while investors awaited figures on U.S. durable good
orders and new home sales.
                                
 Japan's Nikkei average hit its lowest close in two weeks on
Wednesday in the wake of Wall Street's losses in the previous
session. European stocks were down more than 1 percent in
morning trade after disappointing results from ArcelorMittal
<ISPA.AS> and SAP <SAPG.DE> dented hopes of a quick rebound in
corporate earnings.
                                
 Investors will take in September data on U.S. durable goods
at 8:30 am (1230 GMT) and new home sales at 10:00 am (1400
GMT). Market-watchers are keen for more details on the health
of the economy after Tuesday's weaker-than-expected consumer
confidence report raised doubts about spending.
                                
 "There's a real sense here that we've gotten to the point
in this rally in the marketplace where we're going to need a
significant positive catalyst to keep us at these levels, and
we're not finding one this morning," said Arthur Hogan, chief
market analyst at Jefferies & Co in Boston.
                                
 Durable goods orders are expected to have risen 1 percent
from August, according to a survey of economists by Reuters.
New home sales are forecast to rise to 440,000 units.
                                
 S&P 500 futures <SPc1> fell 4.4 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 37
points, while Nasdaq futures <NDc1> were off 3.50 points.
                                
 Visa Inc <V.N> rose in premarket trades the day after it
posted a stronger-than-expected quarterly profit, raised its
dividend and authorized a stock-buyback plan. Shares of the
world's largest payment network were up 1.5 percent at $75.00.
 For details, see [ID:nN27264293]
                                
 Qwest Communications International <Q.N> jumped 5.8 percent
to $3.65 after it forecast 2009 adjusted earnings that would
come in at the top end of its previous outlook.
[ID:nN28244891]
                                
 A former chief executive of Advanced Micro Devices Inc
<AMD.N> became the biggest name to be linked to the Galleon
Group insider-trading scandal, when the Wall Street Journal
reported on Tuesday that he leaked information about the
microprocessor maker in 2008 to a hedge fund manager. AMD's
shares fell 2.9 percent to $5.00. [ID:nN27272204]
                                
 The S&P 500 and the Nasdaq fell on Tuesday, hit by weak
consumer confidence and profit-taking following the stock
market's recent run-up.
                                
 The Dow Jones industrial average <.DJI> managed a slim gain
after IBM Corp <IBM.N> raised its share repurchase plan to $9.2
billion and shares of Exxon Mobil Corp <XOM.N> and Chevron Corp
<CVX.N> rose on the back of BP Plc's <BP.L><BP.N> strong
earnings.
                                
 The S&P 500 is now up 57.2 percent from the 12-year closing
low of March 9. At Tuesday's close, the index was 3.1 percent
off its post-March 9 peak reached about a week ago.
 (Editing by Padraic Cassidy)