US STOCKS-Futures dip; home price, confidence data eyed

                                
  
                                
 * DuPont reports higher-than-expected profit
                                
 * Ford profit exceeds view, shares slip
                                
 * Consumer confidence, Case-Shiller on tap
                                
 * Futures off: S&P 4.1 pts, Dow 26 pts, Nasdaq 4 pts
                                
 * For up-to-the-minute market news see [STXNEWS/US]
  (Writes through, adds details, quote, byline)
                                
 By Leah Schnurr
                                
 NEW YORK, Oct 26 (Reuters) - U.S. stock index futures
dipped on Tuesday, the day after the market hit a
five-and-a-half month high, while the dollar steadied.
                                
 In a busy day for corporate earnings, DuPont and Co <DD.N>
posted higher-than-expected profit as sales rose across all
business units, while Ford Motor Co <F.N> posted a profit that
exceeded estimates and said it expected to eliminate its net
debt by year-end. For details, see [ID:nN26105203] and
[ID:nN26109531]
                                
 Shares of DuPont edged up 0.2 percent at $47.81 in
premarket trade, while Ford slipped 1.4 percent to $13.95.
                                
 Texas Instruments Inc <TXN.N> lost 1.6 percent to $28.52
the day after it warned that fourth-quarter revenue will be
hurt by slowing demand. [ID:nN25274454]
                                
 Equities and the dollar have formed an inverse relationship
exacerbated by expectations the U.S. Federal Reserve will
embark on another round of economic stimulus. The greenback
steadied Tuesday, with investors wary of pushing it lower. The
dollar index <.DXY> was up 0.4 percent. For a Q+A, see
[ID:nN2199257]
                                
 Rick Meckler, president of investment firm LibertyView
Capital Management in New York, noted the dollar-equities
relationship could start to unravel if the greenback falls too
far.
                                
 "You're definitely starting to see a situation where people
are hoping the Fed can find a way to keep rates about where
they are today and keep it from being a deflationary economy
without weakening the dollar much further," said Meckler.
                                
 "How they find a way to walk that tightrope is a real
problem for the market. You can't continue to bring the
currency down and ultimately have successful financial
markets."
                                
 Meanwhile in a speech Monday at Cornell University, William
Dudley, president of the New York Fed, said the Fed cannot
"wave a magic wand" to fix the economy overnight, but it can
provide "essential" support, [ID:nN25295144]
                                
 S&P 500 futures <SPc1> dipped 4.1 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> fell 26
points, and Nasdaq 100 futures <NDc1> gave up 4 points.
                                
 Stocks rose to a five-and-a-half month high on Monday as a
falling dollar, partly driven by expectations of further Fed
stimulus, prompted investors to buy riskier assets.
                                
 Economic data on tap includes October consumer confidence
and the S&P/Case-Shiller Home Price Index for August. Consumer
confidence is expected to rise to 49.2 from 48.5 the month
before, while the home price index is forecast to fall 0.2
percent, compared with a 0.1 percent drop in July. [ECI/US]
                                
 In Europe, UBS AG <UBSN.VX><UBS.N> reported an unexpected
investment banking loss, sending its U.S.-listed shares down
4.3 percent to $17.15 in premarket trading. [ID:nLDE69O0N5]
                                
 "It's a mixed bag of everything but the financials
reporting well and financials continue to raise worries among
investors," said Meckler of the earnings season so far.
  (Editing by Jeffrey Benkoe)