U.S. stocks headed for a lower open on Tuesday as a mixed data on June personal consumption and expenditures sparked caution, and investors set out to book profits a day after Wall Street rallied to a fresh nine-month closing high.

While U.S. consumer spending rose slightly more than expected in June, personal income declined month over month by a greater-than-expected 1.3 percent, the biggest decrease since January 2005, the Commerce Department said.

I think the data shows that consumer confidence appears to be bottoming and turning higher, though headwinds from job losses remain a significant hurdle, said Alan Gayle, senior investment strategist at Ridgeworth Investments in Richmond, Virginia.

S&P 500 futures fell 4.90 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 shed 48 points, and Nasdaq 100 futures were down 10.75 points.

Another economic data point is pending home sales, expected at 10 a.m. (1400 GMT).

Energy shares could be among the top drags amid a pullback in oil prices. U.S. front-month crude fell 0.6 percent to $71.16 a barrel.

Archer Daniels Midland Co dropped 8.9 percent to $27.70 in premarket trade after the U.S. food processor and ethanol producer reported quarterly earnings fell 83 percent as the global economic downturn hurt demand for agricultural commodities and fuel.

But PepsiCo Inc

shares rose 2.7 percent to $57.74 after it agreed to buy Pepsi Bottling Group Inc

and PepsiAmericas Inc

in a sweetened cash-and-stock deal worth $7.8 billion, a source familiar with the talks said on Tuesday.

Pepsi Bottling Group shares rose 7.1 percent to $35.99 and PepsiAmericas Inc rose 8 percent at $8.24.

Monday's run-up extended Wall Street's recovery from the 12-year lows of early March. Since then the benchmark S&P 500 <.SPX> index has risen 48.2 percent.

(Additional reporting by Ryan Vlastelica; Editing by Padraic Cassidy)

Pepsico