* Jan retail sales on tap
* NYSE Euronext shares halted pending news
* Futures off: S&P 1.1 pts, Dow 6 pts, Nasdaq 1.5 pts
* For up-to-the-minute market news see []
(Updates market activity)
By Edward Krudy
NEW YORK, Feb 15 (Reuters) - U.S. stock index futures were
little changed on Tuesday as investors remained wary of indexes
at loft levels, although retail sales later in the morning
could drive markets.
Wall Street was lifted on Monday by modest gains in the S&P
500 and the Nasdaq, but the lowest volumes so far this year
indicated an equities rally may be peaking after rising 13
percent since December.
Retail sales figures for January, due at 8:30 a.m. EST
(1330 GMT), may provide further direction for equities.
Economists polled by Reuters expected a 0.6 percent rise in
retail sales, matching December results.
Peter Cardillo, chief market economist at Avalon Partners
in New York, said he expected retail sales to confirm a picture
of a steadily improving economy that has helped drive equities
recently.
"I don't expect the market to collapse and I don't expect
the market to gain much strength today, but I do believe we
could tack on another positive session," he said.
S&P 500 futures <SPc1> fell 1.1 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> dropped 6
points, and Nasdaq 100 futures <NDc1> were off 1.5 points.
Other data due later Tuesday included import and export
prices as well as the New York Fed's manufacturing index for
February.
China reported 4.9 percent inflation, below forecasts, but
price pressures excluding food were at their strongest level in
at least a decade and could force the central bank to keep
tightening monetary policy. Gold and copper prices gained,
supported by a weaker dollar. For details, see []
In company news, Deutsche Boerse <DB1Gn.DE> and NYSE
Euronext <NYX.N> were expected to announce a deal to create the
world's largest exchange operator, putting aside thorny
political issues. NYSE Euronext shares were halted, pending
news. []
Host Hotels & Resorts Inc <HST.N>, the owner of over a
hundred high-end hotels operated by such brand owners as
Marriott International Inc <MAR.N>, Starwood Hotels & Resorts
Worldwide Inc <HOT.N> reported a higher quarterly revenue.
Marriott's shares gained 4.9 percent to $43 in premarket
trading. []
U.S. Steel Corp <X.N> rose 2.7 percent to $61.95 premarket
after Goldman Sachs raised its rating on the stock to "buy"
from "neutral," saying the company was well placed to gain from
rising steel prices and demand.
(Editing by Jeffrey Benkoe)
