* Unrest grows in Egypt as Mubarak hangs on
* After teaming up with Microsoft, Nokia shares fall 8 pct
* Expedia shares fall 15 pct a day after results
* Futures down: Dow 34 pts, S&P 4.6 pts, Nasdaq 5.75 pts
* For up-to-the-minute market news see []
(Updates prices, adds Expedia, quote, byline)
By Rodrigo Campos
NEW YORK, Feb 11 (Reuters) - U.S. stock index futures fell
on Friday as uncertainty gripped markets following Egyptian
President Hosni Mubarak's refusal to step down after more than
two weeks of civil protests throughout the country.
Mubarak's pledge on Thursday to delegate some of his power
to the vice president seemed to briefly alleviate fears unrest
could spread to neighboring countries. The S&P 500 and Nasdaq
indexes pushed ahead on the news, ending positive.
The S&P 500, which closed at 1,321.87 Thursday, has
technical support at 1,313 and 1,300 -- meaning a drop to those
levels could entice buyers.
An increasingly tense situation has raised fears of
violence in the most populous Arab nation, a key U.S. ally in
an oil-producing region. For stories on Egypt see
[].
Brent oil prices <LCOc1> rose 0.6 percent to trade above
$101 a barrel on fears oil flows could be disrupted. Partly
because of the Egypt crisis, the MSCI index of Asian-Pacific
stocks ex-Japan fell 4.3 percent for the week while European
shares were trading lower.
"Everybody's looking at Egypt," said Kim Caughey Forrest,
senior equity research analyst at Fort Pitt Capital Group in
Pittsburgh.
"Egypt is not an oil producer, but there are other
dictatorships in the area," she said. "If protesters force a
regime change it may give other countries ideas, and I guess
that's Wall Street's biggest fear: that it spills over."
She said energy sector companies were the most likely to be
volatile if violence erupts, and a spike in oil prices could
also hurt consumer sector stocks.
S&P 500 futures <SPc1> fell 4.6 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> dropped
34 points and Nasdaq 100 futures <NDc1> lost 5.75 points.
Two S&P 500 companies are due to report earnings before the
market's open: Coca-Cola Enterprises Inc <CCE.N> and SCANA Corp
<SCG.N>.
Expedia Inc <EXPE.O>, the largest online travel agency,
posted Thursday a quarterly profit on stronger bookings, but
the results were weaker than expected and its shares tumbled
more than 15 percent to $21.80 premarket. [].
Nokia <NOK1V.HE><NOK.N> and Microsoft <MSFT.O> teamed up in
an attempt to take on Google and Apple in the fast-growing
smartphone market. []. U.S.-traded Nokia shares
dropped 8.1 percent to $10 in premarket trading.
The Commerce Department is due to release international
trade data for December at 8:30 a.m. (1330 GMT), which could
show the extent to which a weaker U.S. dollar has helped
exports. Economists in a Reuters survey forecast a $40.4
billion deficit compared with a $38.31 billion deficit in
November.
The Thomson Reuters/University of Michigan consumer
sentiment data is due out at 9:55 a.m. (1455 GMT). Economists
expect a reading of 75.0 compared with 74.2 in the final
January report.
(Reporting by Rodrigo Campos; Editing by Kenneth Barry)
