US STOCKS-Futures flat as Caterpillar earns offset Greece

* Euro zone leaders agree on second rescue package

* GE shares rise after profit tops estimates

* Microsoft falls after results, limiting Nasdaq gains

* Futures: Dow off 3 pts, S&P up 1.2 pts, Nasdaq off 3.5

* For up-to-the-minute market news see [STXNEWS/US] (Updates prices, adds analyst comment and Verizon results)

By Ryan Vlastelica

NEW YORK, July 22 (Reuters) - U.S. stock index futures were little changed on Friday as Caterpillar's profit missed estimates, offsetting a strong report from GE and an agreement on a Greece rescue package.

Dow component Caterpillar Inc shares fell 5.2 percent to $105.79 in premarket trading after the heavy machinery maker reported its second-quarter results. [ID:nN1E76K1C8]

Microsoft Corp reported a greater-than-expected jump in its fourth-quarter profit late Thursday, but earnings from its core Windows product fell on soft personal computer sales. The Dow component slipped 0.8 percent to $26.88 premarket. [ID:nN1E76K1RP]

On the plus side, General Electric Co rose 2 percent to $19.55 premarket after it reported a 21.6 percent jump in quarterly, beating expectations. [ID:nN1E76L01U]

"GE should continue to help the overall markets. It's one of the world's major companies and people own it across the board," said Robert Pavlik, chief market strategist at Banyan Partners LLC in Palm Beach Gardens, Florida. "The fact that it's trading higher is good news for the overall market and is another sign earnings season will be strong."

Euro zone leaders agreed on a second rescue package for Greece that could trigger a temporary default and would give a financial rescue fund broader powers to try to prevent a spread of market instability. For details, see [ID:nL6E7IK2VL]

Worries that euro-zone debt contagion could reach regions where U.S. banks have more exposure have pressured equities in recent weeks.

"The deal removes one of the concerns related to the overall market, and while it doesn't end thing, it shows that EU finance ministers understand the risk associated with a possible default and that they're willing to step up and support weaker countries," said Pavlik/

Verizon Communications Inc , which like GE and Microsoft is a Dow component, swung to a second-quarter profit from a year-ago loss, and named a new chief executive officer. [ID:nL3E7IM1QL]

S&P 500 futures rose 1.2 points and were above 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 dipped 3 points, and Nasdaq 100 futures took off 3.5 points.

Equities have also been pressured by the drawn-out wrangling to reach a deal to raise the U.S. debt ceiling. Efforts to raise the ceiling and avoid a U.S. default are in crunch time, with U.S. President Barack Obama and top lawmakers engaged in a sometimes chaotic drive to reach a sweeping deficit-reduction deal. [ID:nN1E76K2FL]

Advanced Micro Devices Inc advanced 7.2 percent to $6.97 in premarket after forecasting faster revenue growth than expected late Thursday. [ID:nN1E76K20F]

Apple Inc is in early talks to join the bidding for Hulu, the online video site that Walt Disney Co , News Corp and other owners put up for sale, Bloomberg reported, citing sources. [ID:nN1E76K2EU]

The U.S. Justice Department is looking into allegations a News Corp advertising unit hacked into a competitor's computers, NBC News reported, citing the competitor's lawyer. [ID:nN1E76K2E8]

U.S. stocks climbed on Thursday as signs of progress on the U.S. debt talks and concrete action from Europe on its own debt crisis heartened investors. (Editing by Jeffrey Benkoe)