US STOCKS-Futures pull back after two-day rally

lunes 10 de febrero de 2014 08:46 GYT

* Yelp climbs on deal with Yahoo

* Hasbro falls after earnings

* Futures off: Dow 41 pts, S&P 5.25 pts, Nasdaq 4.5 pts

By Chuck Mikolajczak

NEW YORK, Feb 10 (Reuters) - U.S. stock index futures dipped on Monday, indicating the S&P 500 would retreat after its best two-day performance in four months, ahead of new Federal Reserve Chair Janet Yellen's first testimony before lawmakers on Tuesday.

* The benchmark S&P 500 rallied Friday in the index's first weekly gain in the past four, as investors looked past a disappointing payrolls report, eroded partly by frigid weather.

* Despite the soft payrolls data, the Federal Reserve is largely not expected to pause its efforts to scale back its stimulus measures.

* Yellen's first test as chair of the Federal Reserve comes Tuesday when she faces U.S. lawmakers, some hostile to the central bank, who will want to know how committed she is to winding down the Fed's support for the economy.

* S&P 500 E-mini futures fell 5.25 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 lost 41 points and Nasdaq 100 futures declined 4.5 points.   Continuación...