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US STOCKS-Futures dip after best market day in 3 months

Published 10/30/2009, 07:29 AM
Updated 10/30/2009, 07:33 AM
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* Personal spending, consumer sentiment on tap

* Chevron set to report results

* Futures off: S&P 3.3 pts, Dow 30 pts, Nasdaq 2 pts

NEW YORK, Oct 30 (Reuters) - U.S. stock index futures dipped on Friday, a day after the market logging its best percentage gain in three months, as investors await data that will shed light on consumer sentiment.

* The day's economic agenda includes the Commerce Department's September personal income and consumption data at 8:30 a.m. EDT as well as the final reading of consumer sentiment for October, due at 9:55 a.m.

* Oil giant Chevron Corp is among companies set to report earnings before the opening bell.

* Among overseas firms reporting results, telecommunications gearmaker Alcatel-Lucent SA posted its 12th straight quarterly loss, hit hard by sharp cutbacks in investments by telecoms operators. The stock dropped 8 percent in Paris trading.

* Sony Corp posted a loss for the fourth consecutive quarter, but trimmed its full-year loss forecast close to market expectations.

* Rival Panasonic Corp posted its first profit in three quarters on robust sales of advanced DVD recorders and appliances, and raised its full-year outlook.

* NYSE Euronext said it is selling a "significant equity interest" in its derivatives exchange NYSE Liffe U.S., and reported a drop in earnings. Its shares were up 2 percent in Paris trading.

* After Thursday's close, shares of McAfee Inc dropped 4.5 percent as the security software maker reported quarterly revenue that missed estimates, while shares of Novatel Wireless Inc fell 16.6 percent after it warned that sales of its flagship mobile wi-fi product would be flat to down sequentially.

* S&P 500 futures slipped 3.3 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 lost 30 points, while Nasdaq futures dipped 2 points.

* Stocks rallied Thursday after data showed the U.S. economy returned to growth in the third quarter, brightening the outlook for profits.

* The S&P 500 is up 57.6 percent from its 12-year closing low on March 9, but is off 2.9 percent from its post-March peak reached on Oct. 19.

* Going into the final trading day of the month, the S&P 500 is up nearly 1 percent for October. If the index is unable to hold onto the month's gains, it will snap a seven-month winning streak.

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