Stock futures dip ahead of data, key indexes stall

NEW YORK (Reuters) - Stock index futures edged lower on Wednesday ahead of several reports which may provide insight on the health of the domestic economy.

The S&P 500 index has stalled near early May highs after gaining in seven of the past nine sessions; the benchmark index has not moved more than 0.22 percent in either direction over the past five sessions and volume has declined in a seasonally slow period.

At 8:30 a.m. ET (1230 GMT), the consumer price index for July and the Empire State manufacturing survey for August will be released. Economists in a Reuters survey expect a 0.2 percent increase in CPI compared with a flat reading in June while the manufacturing survey's main index is expected to show a reading of 6.5 against 7.39 in July.

Data expected later in the session include industrial production and capacity utilization for July at 9:15 a.m. ET (1315 GMT) and the National Association of Home Builders/Wells Fargo August housing market index at 10:00 a.m. ET (1400 GMT).

Economists in a Reuters survey expect a 0.5 percent rise in production and a reading of 79.2 percent for capacity utilization. The housing market index is expected to show a 35 reading, identical to July.

"I suspect industrial production will show the economy continues to mull along at a slow growth rate," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.

"Markets are poised for a repeat of yesterday's market action, the industries could drift higher and maintain their technical strength - it looks like we are just in a trading holding pattern that suggests a bullish trend."

S&P 500 futures fell 2.9 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 23 points, and Nasdaq 100 futures dropped 3.75 points.

Staples Inc slumped 11.9 percent to $11.85 in premarket trading after the office supply chain reported lower-than-expected quarterly revenue on weak demand in North America, Europe and Australia, and forecast flat sales for the fiscal year.

Deere & Co lost 5.1 percent in premarket trading after the world's largest agricultural equipment maker reported a lower-than-expected quarterly profit on Wednesday, citing weak sales in China, India and other emerging markets.

Target Corp edged up 0.7 percent to $63.80 after the discount retail chain posted a flat quarterly profit.

Abercrombie & Fitch Co reported sharply lower quarterly profit as sales fell at all of the teen clothing retailer's brands.

Private equity firm Carlyle Group LP will form a partnership with the management of Getty Images to buy Getty Images Inc from Hellman & Friedman for $3.3 billion.

Other S&P 500 companies scheduled to report earnings on Wednesday include Agilent Technologies Inc , Cisco Systems , Limited Brands and NetApp Inc .

European shares fell from four-month highs, led by basic resources stocks after a bearish update from miner ENRC . <.EU>

Asian shares fell as investors booked gains from recent rallies after data showing strong U.S. retail sales and Germany and France avoiding a contraction last quarter calmed sentiment, with weak euro zone growth sustaining stimulus hopes.

(Editing by Bernadette Baum)

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