Stock Futures Little Changed After S&P Rally to 9-Month High

(REUTERS) - Stock index futures were little changed Friday as investors were set to take a breather from a rally that pushed the S&P 500 to a nine-month high in the previous session.

* The S&P pushed above technical resistance level toward 1360 on Thursday, fueled by stronger U.S. economic data and increased hopes for a deal on a Greek bailout next week.

* More gains could be ahead after European shares rallied to a six and a half month high as investors bet that Greece would sign a deal to secure a second bailout by Monday. That would help the euro-zone nation avoid a messy default, which could have a rippling effect in the financial markets.

* Investor sentiment improved after euro-zone officials said the finishing touches were being put on the bailout package, which would include a debt swap deal that cuts the value of bonds held by financial firms by about 70 percent.

* S&P 500 futures rose 1.5 points and were in line with 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 28 points, and Nasdaq 100 futures fell 2.5 points.

* The U.S. Labor Department releases at 8:30 a.m. the January Consumer Price Index, and economists expect a 0.3 percent rise from an unchanged reading in December. Excluding volatile food and energy items, CPI is expected to rise 0.2 percent, against a 0.1 percent increase in the prior month.

* Other data include the Conference Board's Leading Economic Indicators index, expected to rise 0.5 percent month over month in January.

* President Barack Obama will stay focused on China on Friday with an announcement of streamlined financing for U.S. exporters that compete against foreign firms that are afforded unfair advantages, White House officials said.

* Apple Inc's share of China's booming smartphone market slipped for a second straight quarter in October-December as it lost ground to cheaper local brands and as some shoppers held off until after the iPhone 4S launch last month.

* Diversified U.S. conglomerate 3M Co. is topping up staff pension plans with $800 million to $1 billion cash in 2012 as falling discount rates inflate its long-term liabilities, becoming the latest American company to inject cash into under funded retirement plans.

* Baidu Inc.'s U.S.-traded shares fell 2.4 percent after the bell on Thursday, while Applied Materials Inc. were 3.6 percent higher following release of their results.

(Reporting by Angela Moon; Editing by Padraic Cassidy)