* U.S. fiscal cliff concerns overshadow Greek debt deal
* Durable goods orders, consumer confidence data on tap
* Futures: S&P flat; Dow down 6 pts, Nasdaq up 2.5 pts
By Angela Moon
NEW YORK, Nov 27 U.S. stock index futures were
little changed on Tuesday despite news that international
lenders agreed to reduce Greece's debt, as the market's focus
turned back to the "fiscal cliff".
* Market sentiment had improved after Euro zone finance
ministers and the International Monetary Fund clinched agreement
late on Monday on reducing Greece's debt in a breakthrough to
release urgently needed loans to keep the near-bankrupt economy
* But as U.S. budget negotiations continued in Washington,
the market quickly reverted to a more cautious stance on
concerns over the fast-approaching fiscal cliff. Futures cut
earlier gains to trade flat.
* S&P 500 futures were little changed and in line
with 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 fell 6
points, while Nasdaq 100 futures were up 2.5 points,
* As of Monday's close, the S&P 500 was holding above the
1,400 level it retook last week, and volume continued to be weak
as traders awaited any advance in talks between the Obama
administration and Congress to avert a series of spending cuts
and tax increases scheduled to begin next year, which threaten
to drag the economy into recession.
* The Commerce Department releases October durable goods
orders at 8:30 a.m. ET (1330 GMT). Economists expect a 0.6
percent fall in orders in October, compared with a 9.8 percent
rise in September.
* Standard & Poor's releases its S&P Case/Shiller Home Price
Index for September at 9:00 a.m. ET (1400 GMT). Economists
expect an adjusted 20 city index to rise 0.4 percent, versus a
0.5 percent increase in the previous month.
* Conference Board releases November consumer confidence at
10 a.m. ET (1500 GMT). Economists expect a reading of 73.0,
compared with 72.2 in October.
* ConAgra Foods Inc will acquire Ralcorp, the
largest private label food manufacturer in the U.S. for $90 per
share in cash, a deal valued about $6.8 billion.
* ConocoPhillips' partners in Kazakhstan's Kashagan
field have 60 days to exercise pre-emption rights to prevent
India's ONGC Videsh from buying an 8.4 percent stake in the
project held by the U.S. company, the Indian firm's managing
* Europe is preparing to follow the United States in
delaying the introduction of stricter rules on bank capital,
while it lobbies for a rethink of the U.S. stance, EU sources
* However, the head of the Basel Committee at the Bank of
International Settlements told Reuters on Tuesday that the
introduction of stricter capital rules for banks will go ahead
as planned on Jan. 1.