Nucor earnings beat by $0.08, revenue fell short of estimates
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* Futures: Dow flat, S&P dips 0.08%, Nasdaq down 0.23%
By Devik Jain
Jan 26 (Reuters) - U.S. stock index futures edged lower on
Tuesday as investors refrained from making big bets ahead of a
slew of quarterly earnings from companies, while the Federal
Reserve kicked off its two-day policy meeting.
General Electric Co GE.N rose about 5% after reporting a
better-than-expected free cash flow for the fourth quarter, as
it benefits from a recovery at its power and renewable energy
units. L4N2K12D8
Few if any changes are expected in the central bank's policy
statement at the end of the meeting on Wednesday, with Fed Chair
Jerome Powell likely to address inflation in his post-meeting
news conference. In a volatile trading session on Monday, the S&P 500 and the
Nasdaq closed at record levels. With the S&P 500 trading at 22 times the 12-month forward
earnings, concerns about stock bubbles on Wall Street are
sparking fears of a pullback. Investors are keeping an eye out
for forecasts from corporate America to justify these higher
valuations. At 06:27 a.m. ET, Dow E-minis 1YMcv1 were up 14 points, or
0.05%, and S&P 500 E-minis EScv1 were down 3 points, or 0.08%.
Nasdaq 100 E-minis NQcv1 were down 31.25 points, or 0.23%.
Tech heavyweights Microsoft Corp MSFT.O and Advanced Micro
Devices Inc AMD.O were slightly higher ahead of their earnings
reports expected after markets close.