Futures pare gains after housing, PPI data

20/10/2009 - 12:45

NEW YORK (Reuters) - U.S. stock index futures pared gains on Tuesday after housing and producer price data fell shy of expectations.

* S&P 500 futures rose 1.1 points and were above 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 added 14 points, while Nasdaq futures gained 15.75 points.

(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)