7:43 AM EDT, April 23, 2014
NEW YORK (Reuters) - U.S. stock index futures were flat on Wednesday as investors found few reasons to keep buying following six straight days of gains on both the S&P 500 and Nasdaq.
* Equities have recently been boosted by corporate earnings, with a number of prominent names topping expectations, though companies have largely been beating reduced forecasts. According to Thomson Reuters data, profits are seen rising 1.1 percent this quarter, down from the 6.5 percent growth rate estimated at the start of the year.
* Gilead Sciences Inc
* Shares of Boeing Co
* Procter & Gamble Co
* More key reports are expected Wednesday, with Apple Inc
* With 20 percent of the S&P 500 having reported results through Tuesday morning, 63 percent have topped earnings expectations, according to Thomson Reuters data, matching the long-term average. On the revenue side, 51 percent have exceeded forecasts, below the 61 percent long-term average.
* S&P 500 futures fell 2.1 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 dipped 5 points and Nasdaq 100 futures lost 7 points.
* Both the S&P 500 and Nasdaq closed out six straight days of gains on Tuesday. The S&P rose 3.5 percent over that period while the Nasdaq added 4 percent.
* In another positive sign for equities, the Dow Jones Transportation Average <.DJT> rose 0.6 percent on Tuesday to close at a record high, its first since April 2. However, trading volume was light, suggesting a lack of investor conviction behind the move.
* AT&T Inc
* JetBlue Airways Corp
(Editing by Chizu Nomiyama)
Copyright © 2014, Reuters