US STOCKS-Futures lower as investors rethink stimulus views

                                
  
                                
 * Investors reassess expectations of stimulus from Fed
                                
 * Durable goods, new home sales data on tap
                                
 * Futures off: S&P 6.1 pts, Dow 44 pts, Nasdaq 7.25 pts
                                
 * For up-to-the-minute market news see [STXNEWS/US]
  (Writes through, adds details, quote, byline)
                                
 By Leah Schnurr
                                
 NEW YORK, Oct 27 (Reuters) - Stock futures fell on
Wednesday as investors reassessed how aggressively the U.S.
Federal Reserve may stimulate the economy and braced for more
corporate earnings and economic data.
                                
 Expectations of large-scale U.S. Treasury bond purchases by
the Fed have prompted a market rally since the beginning of
September. Equity investors have bet more quantitative easing
will invigorate an economic recovery and lift asset prices.
                                
 The Wall Street Journal reported the central bank is likely
next week to unveil a program of purchases worth a few hundred
billion dollars over several months, and want to avoid a "shock
and awe" style approach. For details, see [ID:nTOE69Q02H]
                                
 "The market is beginning to assess the sum of what the FOMC
(Federal Open Market Committee) may inject into the economy,"
said Peter Cardillo, chief market economist at Avalon Partners
in New York.
                                
 "I don't think the Fed is going to be overly aggressive
with quantitative easing, so that could dampen some enthusiasm
here in the short term."
                                
 In a Reuters survey earlier this month, U.S. primary
dealers projected the size of the Fed's expected quantitative
easing from $500 billion to $1.5 trillion. [FED/R]
                                
 On the earnings front, Dow component Procter & Gamble Co
<PG.N> reported higher-than-expected quarterly profit, and its
shares gained 0.7 percent to $63.32 before the opening bell.
[ID:nN27198603]
                                
 Economic data on tap includes durable goods and new home
sales, both for September. Durable goods are forecast to rise 2
percent from a decline of 1.5 percent the month before, while
new home sales are expected to rise to 300,000 from 288,000 the
previous month. [ECI/US]
                                
 S&P 500 futures <SPc1> fell 6.1 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> slipped
44 points, and Nasdaq 100 futures <NDc1> gave up 7.25 points.
                                
 Stocks ended little changed on Tuesday on investor caution
ahead of next week's U.S. elections and Fed statement.
                                
 Among other earnings reports, Sprint Nextel Corp <S.N>
reported a wider quarterly loss, while Whirlpool Corp's <WHR.N>
profit fell amid flat sales. Sprint declined 3.6 percent to
$4.60, while Whirlpool edged up 0.2 percent at $84.70.
[ID:nN27206945] and [ID:nN27198322]
                                
 Barnes & Noble Inc <BKS.N> unveiled a color touch screen
version of its Nook electronic reader as it seeks to catch up
to the Kindle from Amazon.com Inc <AMZN.O>. [ID:nN25276340]
                                
 Apple Inc <AAPL.O> said that it would delay the release of
a new iPhone again -- this time until next spring.
[ID:nN26163792]
  (Editing by Jeffrey Benkoe)