US STOCKS-Futures dip as enthusiasm fades over Irish deal

* Irish bailout enthusiasm fades

* Tyson Foods posts quarterly results

* Futures: Dow off 16 pts, S&P off 0.6 pt, Nasdaq up 3 pts

* For up-to-the-minute market news see [STXNEWS/US]

By Chuck Mikolajczak

NEW YORK, Nov 22 (Reuters) - U.S. stock index futures slipped on Monday as enthusiasm waned over a resolution to help bail out Ireland and worries over contagion remained.

The European Union and International Monetary Fund tentatively agreed to a bailout package with Ireland, with loans up to 90 billion euros to resolve its banking and budget crisis. Concerns that Ireland's debt crisis might spread to other euro zone countries has hung over U.S. stocks in recent weeks and elicited modest relief in global markets on Monday. For details, see [ID:nLDE6AL00M]

"Now investors are forcing corrections on government spending, particularly as it relates to the deficit budgets of smaller countries," said Rick Meckler, president of LibertyView Capital Management in New York.

"Like the last crisis, this one has the potential to have some pretty far-reaching consequences. So we are probably early on in the story, as you still have Spain, Portugal and ultimately you have the U.S. government overspending as an issue to be resolved in the marketplace."

U.S.-listed shares of Allied Irish Banks Plc shed 6.5 percent to $1.15, and Bank of Ireland tumbled 19.5 percent to $2.15 in premarket trade.

S&P 500 futures slipped 0.6 point and were slightly 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 dropped 16 points, and Nasdaq 100 futures gained 3 points.

Tyson Foods Inc reported quarterly results early Monday. Its shares fell 2.8 percent to $15.20 in light premarket trade. [ID:nASA014IK]

U.S. companies expected to report quarterly results on Monday include Hewlett-Packard Co and Analog Devices Inc.

Trading volume is expected to be tepid this week due to the U.S. Thanksgiving Day holiday on Thursday.

European shares turned flat at midday on Monday as early gains evaporated, with banking stocks weakening, as Ireland's bailout failed to quash fears of contagion to other euro zone economies. [ID:nLDE6AL09Q] (Editing by Jeffrey Benkoe)