US STOCKS-Futures down ahead of Fed meeting
* Futures down: Dow 71 pts, S&P 7.75 pts, Nasdaq 6.25 pts
By Tanya Agrawal
April 28 (Reuters) - U.S. stock index futures were down on Tuesday as investors took to the sidelines before the start of a two-day Federal Reserve meeting.
* Analysts expect recent soft U.S. data will nudge the Fed towards a dovish stance on monetary policy. But investors will scrutinize statements for hints about the timing of a rate hike, which is expected at the end of the year.
* Apple rose 2.4 percent to $135.87 in premarket trading a day after the company beat Wall Street's revenue and profit forecasts as it sold more iPhones in China.
* Merck shares rose 4.5 percent to $59.65 after the company's diabetes drug, Januvia, achieved the main goal of a long-awaited heart safety study. The company also reported better than expected quarterly sales and earnings on Tuesday.
* Fellow Dow component and drugmaker Pfizer advanced 1 percent to $34.95 in premarket after reporting its quarterly results.
* Data expected on Tuesday include U.S. single-family home prices for February at 9:00 a.m. EDT (1300 GMT) and U.S. consumer confidence numbers for April at 10 a.m. (1400 GMT).
* Wall Street ended lower on Monday led by losses in biotech shares after disappointing news from several health companies led the Nasdaq Biotech index to post its biggest daily percentage loss in over a month. Continuación...