* Caterpillar, Boeing and United Tech report Q4 results
* FOMC 2-day meeting ending, new home sales data awaited
* Obama to deliver State of the Union Wednesday night
* Futures up: Dow 12 pts, S&P 1.9 pts, Nasdaq 4.5 pts
* For up-to-the-minute market news, click []
(Updates with earnings, adds quote)
By Ryan Vlastelica
NEW YORK, Jan 27 (Reuters) - U.S. stock index futures were
little changed on Wednesday as investors awaited the outcome of
a two-day Federal Reserve policy meeting, though earnings
results from Boeing Co and Caterpillar Inc limited gains.
The markets are also looking ahead to U.S. President Barack
Obama's first State of the Union address, which will be
delivered to Congress at 9 p.m. (0200 GMT).
The Federal Open Market Committee concludes a two-day
meeting at about 2:15 p.m. (1915 GMT), with few policy shifts
expected. Investors will look for clues on how long the Fed
will keep in place ultra-low interest rates and its easy-money
program. For details, see []
New U.S. home sales figures are also due, at 10 a.m. (1500
GMT). On Tuesday, Standard & Poor's/Case-Shiller indexes and a
report from the National Association of Realtors revealed a
weaker-than-expected housing market.
Dow components United Technologies Corp <UTX.N>,
Caterpillar Inc <CAT.N> and Boeing Co <BA.N> all reported
fourth-quarter results on Wednesday, with Boeing falling 1.6
percent to $56.78 in premarket trading after the results.
Caterpillar slid 1.9 percent to $54.80.
"Today is probably the busiest day we could have for
catalysts that I can imagine, between the Fed, Obama, the data
and all the earnings," said Arthur Hogan, chief market analyst
at Jefferies & Co in New York.
"Investors are feeling optimistic about what the Fed and
president will say, which is why we're a little up, but mostly
they're waiting to see the data before jumping in."
S&P 500 futures <SPc1> rose 1.9 points and were modestly
above 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>
gained 12 points, and Nasdaq 100 futures <NDc1> added 4.5
points.
Lifting the Nasdaq premarket was Yahoo Inc <YHOO.O>, which
gained 3.3 percent to $16.51 a day after the company reported
its fourth-quarter results and said revenue could grow for the
first time in more than a year in its first quarter.
[]
Apple Inc <AAPL.O> edged 0.5 percent higher to $207. The
company is expected to unveil its long-awaited tablet computer
later Wednesday.
The U.S. Senate moved Tuesday to clear the way to confirm
Ben Bernanke to a second term as Fed chairman, setting a
procedural vote for Thursday, signaling that the needed votes
were secured. Uncertainty over Bernanke's reappointment hung
over stocks in recent sessions.
(Editing by Padraic Cassidy & Theodore d'Afflisio)
