US stock futures almost unchanged before home sales data, amid UN chemical investigation report from Syria

U.S. stock index futures were little changed, signaling the Standard & Poor’s 500 Index will remain near an eight-week low following a significant drop from yesterdays trading session, as investors awaited data on pending home sales.

Standard & Poors 500 futures expiring in September gained less than 0.1% to 1,629.3 at 10:56 a.m. in London, having earlier climbed as much as 0.4 percent. The equity benchmark yesterday slid 1.6% to the lowest level since July 3 amid concern the U.S. will take military action against Syria. Contracts on the Dow Jones Industrial Average rose 7 points, or less than 0.1%, to 14,765 today.

“People have locked in profits in the year to date and volumes have started to pick up again in the last couple of days,” Veronika Pechlaner, who helps oversee about $2.3 billion as an investment manager at Jersey, Channel Islands-based Ashburton Ltd., said in a phone interview for Bloomberg. “The next move upwards has to come from earnings growth and macro data. Anything related to housing or employment will be closely scrutinized by investors for cues about earnings momentum.”

Late Monday, Secretary of State John Kerry said the Syrian governments use of chemical weapons is a “moral obscenity” and that the Obama administration has developed conclusive evidence that chemical weapons were used last week. It was the clearest signal yet that the U.S. is considering an attack against President Bashar al-Assads regime.

In corporate news, TiVo advanced 2% to $11.19 after reporting second-quarter net income of $268.9 million, including legal settlements, compared with a $27 million loss a year earlier. Chief Executive Officer Tom Rogers said in an interview the company will be profitable for the remainder of the fiscal year ending January and through the following year.

Avago added 6.7 to $39 in late New York trading. The supplier of components for wireless communications reported third-quarter revenue of $664 million, exceeding the $617.25 million average forecast of analysts surveyed by Bloomberg.

Newmont Mining, the world’s second-biggest gold producer, gained 3.5% to $33.23 in pre-market New York trading as the precious metal climbed to the highest price since May in London. Barrick Gold Corp., the largest producer, advanced 2.1% to $20.08 in Germany.