* Obama to focus on economy in State of the Union address
* Futures: Dow up 1 pt, S&P off 0.3 pt, Nasdaq down 3 pts
NEW YORK Feb 12 U.S. stock index futures were
little changed in low volume on Tuesday, hovering near
multi-year highs as traders look ahead to President Barack
Obama's State of the Union address.
* The economy will be one of the main themes of Obama's
speech at 9 p.m. EST on Tuesday (0200 GMT Wednesday). Any clues
on a deal to avert automatic spending cuts due to take effect
March 1 will be key for markets.
* "Things are really quiet, waiting to see what the marching
orders are for the next four years," said Kim Forrest, senior
equity research analyst at Fort Pitt Capital Group in
* Equities were mostly flat on Monday but the trend on the
S&P 500, off from six weeks of gains, continues to be higher.
The index is up 6.4 percent so far this year.
* S&P 500 futures fell less than a point 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 rose 1
points, and Nasdaq 100 futures edged up half a point.
* Quarterly results are expected from companies including
McGraw-Hill, Marsh & McLennan and Reynolds
* India's industrial production unexpectedly shrank for a
second straight month in December, weighed down by weak
investment and consumer demand, casting doubt on the view that
Asia's-third largest economy is showing signs of recovery.
* On Monday, the Dow Jones industrial average fell
21.81 points, or 0.16 percent, to 13,971.16. The S&P 500
dipped 0.92 points, or 0.06 percent, to 1,517.01 and the Nasdaq
Composite edged down 1.87 points, or 0.06 percent, to