US STOCKS-Facebook slide weighs on futures; Fed statement eyed

miércoles 29 de octubre de 2014 08:28 GYT

* Facebook shares down as expenses seen rising

* Orbital Sciences falls after rocket explosion

* Futures: Dow up 10 pts, S&P off 2 pts, Nasdaq down 7.5 pts (Updates prices, adds byline)

By Rodrigo Campos

NEW YORK, Oct 29 (Reuters) - U.S. stock index futures were mixed on Wednesday, with S&P 500 and Nasdaq futures weighed by a sharp decline in Facebook 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 exceeded profit expectations. In a typical quarter since 1994, 63 percent of companies beat estimates, according to Thomson Reuters data.

* Facebook Inc shares fell 6.5 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.

* Hershey Co shares fell 4.7 percent after the chocolate maker cut its full-year earnings and revenue growth forecasts, citing higher dairy prices, a stronger dollar and weak sales growth in some markets.   Continuación...