US STOCKS-Futures see flat open on earnings, ahead of Fed

* Caterpillar, Boeing and United Tech report Q4 results

* FOMC 2-day meeting ending, new home sales data awaited

* Obama to deliver State of the Union Wednesday night

* Futures: Dow up 5 pts, S&P off 1.6 pts, Nasdaq up 0.75 pt

* For up-to-the-minute market news, click [STXNEWS/US]
(Updates prices)

By Ryan Vlastelica

NEW YORK, Jan 27 (BestGrowthStock) – U.S. stock index futures edged
higher on Wednesday as several better-than-expected profit
reports provided a solid footing, though investors remained
wary of the outcome of political developments in Washington.

Investors are looking ahead to U.S. President Barack
Obama’s first State of the Union address, which will be
delivered to Congress at 9 p.m. (0200 GMT) and the outcome of a
two-day U.S. Federal Reserve policy meeting.

The Federal Open Market Committee concludes its meeting at
about 2:15 p.m. (1915 GMT), with few policy shifts expected.
The market will look for clues on how long the Fed will keep in
place ultra-low interest rates and its easy-money program. For
details, see [ID:nN26106537]

The U.S. Senate moved Tuesday to clear the way to confirm
Ben Bernanke to a second term as Fed chairman, setting a
procedural vote for Thursday, signaling that the needed votes
were secured. Uncertainty over Bernanke’s reappointment hung
over stocks in recent sessions.

“The focus today is on the State of the Union, Bernanke’s
confirmation and the Fed meeting, though most think they won’t
change anything,” said Bruce Bittles, chief investment
strategist at Robert W. Baird & Co in Nashville.

“Investors are paying less attention to earnings than they
would otherwise, even though we’ve had some good reports and
some bad ones.”

Boeing Co (BA.N: ), a Dow component, rose 2.8 percent to
$59.30 after reporting adjusted fourth-quarter earnings that
beat expectations. [ID:nN26103777]

United Technologies Corp (UTX.N: ) reported fourth-quarter
earnings that beat expectations by a penny and affirmed its
2010 outlook. [ID:nN27160800]

Caterpillar Inc (CAT.N: ), however, fell 4 percent to $53.60
in premarket trading after the Dow component reported
weaker-than-expected fourth-quarter revenue. [ID:nN21182482]

S&P 500 futures (SPc1: ) fell 0.2 point and were about even
with 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: )
gained 5 points, and Nasdaq 100 futures (NDc1: ) added 0.75
point.

Data on new U.S. home sales figures are due at 10 a.m.
(1500 GMT). On Tuesday, Standard & Poor’s/Case-Shiller indexes
and a report from the National Association of Realtors revealed
a weaker-than-expected housing market.

Yahoo Inc (YHOO.O: ) gained 2.6 percent to $16.41 a day
after the company reported its fourth-quarter results and said
revenue could grow for the first time in more than a year in
its first quarter. [ID:nN2519773]

Apple Inc (Read more about Apple stock future.) (AAPL.O: ) edged 0.4 percent higher to $206.74. The
company is expected to unveil its long-awaited tablet computer
later Wednesday.

Stock Market Today

(Editing by Padraic Cassidy)

US STOCKS-Futures see flat open on earnings, ahead of Fed