NEW YORK, Oct 28 (Reuters) - S&P 500 stock index futures briefly dipped on Wednesday after data showed new orders for long-lasting U.S. goods rose 1 percent in September, meeting Wall Street expectations.
* "Basically, the number was in line with expectations and was the fourth rise in six months," said David Katz, chief investment officer at Matrix Asset Advisors in New York. "That's a positive indicator. In a recovering economy, you'll get three steps forward and then two steps back."
Data on U.S. September new home sales is due later in the session.
* S&P 500 futures fell 3.8 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 were off 2.50 points.