Business News : Futures flat ahead of factory, construction data

NEW YORK (Business News) - Stock index futures were flat on Tuesday ahead of data on the manufacturing sector that should indicate the pace of the economic recovery.

The S&P 500 closed April with its first monthly decline since November as economic data pointed to a slowing domestic economy and continued flare-ups in the euro zone highlighted the risks of the region's debt crisis.

Investor focus will be dominated by the United States as a number of European and Asian stock markets, including ones in Germany, France and Italy, are closed on Tuesday for the May Day holiday. .EU

Britain's FTSE 100 .FTSE bounced 0.4 percent higher early, with Lloyds Banking Group Plc (LLOY.L) among the top gainers after quarterly results, offsetting a fall in integrated oils led by BP. .L

S&P 500 futures rose 1.2 points and were roughly even with fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow J ones industrial average futures were up 6 points, and Nasdaq 100 futures slipped 3.25 points.

The Institute for Supply Management releases its April manufacturing index at 10 a.m. EDT (1400 GMT). Economists in a Business News survey expected a reading of 53.0 versus 53.4 in March.

Also at 10 a.m., the Commerce Department will release March construction spending data. Economists forecast a rise of 0.5 percent, compared with a 1.1 percent drop in February.

Pfizer Inc (PFE.N) reported better-than-expected quarterly earnings as cost controls partly offset plunging sales of its Lipitor cholesterol fighter, now facing competition from cheaper generics. The shares dipped 0.7 percent to $ 22.75 in light premarket trade.

According to Thomson Business News data through Monday morning, of the 297 S&P 500 co mpanies that have reported results, 72 percent topped estimates.

Earnings are expected from 32 S&P 500 companies on Tuesday, including Broadcom Corp (BRCM.O), Chesapeake Energy Corp (CHK.N) and Fiserv Inc (FISV.O).

BP Plc's (BP.L) profit dropped more than expected on the back of a fall in production prompted by the need to sell oil fields to pay for the Gulf of Mexico disaster. U.S.-listed shares (BP.N) fell 2.7 percent to $ 42.25 premarket.

Sears Holdings Corp (SHLD.O) forecast a 1.3 percent drop in quarterly sales at same-store stores due to weak demand for electronics at its namesake department stores and its Kmart chain.

U.S. auto sales in April were expected to remain on pace with the previous month, continuing the momentum that saw the appetite for new vehicles drive first-quarter demand to its highest rate in four years.