US STOCKS-Facebook weighs on futures; U.S. Fed statement awaited

miércoles 29 de octubre de 2014 07:35 GYT

* Facebook shares down as expenses seen rising

* Orbital Sciences falls after rocket explosion

* Futures down: Dow 9 pts, S&P 3 pts, Nasdaq 10.5 pts

NEW YORK, Oct 29 (Reuters) - U.S. stock index futures dipped on Wednesday, weighed by a sharp decline in Facebook Inc shares and ahead of a statement from the U.S. Federal Reserve as it winds down its stimulus program.

* In an otherwise data-light session, the Fed is likely to announce that it will no longer add to its holdings of Treasury bonds and mortgage-backed securities, effectively ending a program that at its peak pumped $85 billion a month into the financial system.

* The Fed's cash injection is widely seen as a pillar of the current multiyear bull market in equities, and earnings are expected to support any further advances. So far this reporting season, 73.5 percent of S&P 500 companies have beat profit expectations. In a typical quarter since 1994, 63 percent of companies beat estimates.

* Facebook shares fell 7.7 percent in premarket trading the day after the social network announced an increase in spending in 2015 and projected a slowdown in revenue growth this quarter.

* Orbital Sciences Corp shares fell 13.7 percent in light volume the day after its unmanned rocket exploded seconds after liftoff from a commercial launch pad in Virginia, marking the first accident since NASA turned to private operators to deliver cargo to the International Space Station.

Futures snapshot at 07:19 EDT (1119 GMT):   Continuación...