US STOCKS-Futures lower after Boeing loss, pullback fears

NEW YORK (Reuters) - U.S. stock index futures fell on Wednesday after Boeing reported disappointing quarterly results and on growing concern that a market pullback looms.

Dow component Boeing Co shed 2 percent to $50.84 in premarket trade after the airplane maker reported a third-quarter loss.

Yahoo Inc jumped 4.1 percent to $17.87 in premarket trade after the Internet media company beat profit and sales expectations, as spending by advertisers showed signs of life.

Drugmaker Eli Lilly and Co posted better-than-expected profit, aided by higher sales of its Cymbalta anti-depressant and Alimta cancer drug, and boosted its full-year forecast. Shares rose 2.2 percent to $36 in premarket.

"We are getting a much better earnings reporting season than we've anticipated, both in the top and bottom line," said Arthur Hogan, chief market analyst at Jefferies & Co in Boston.

"The market looks like it may trade down at the open for no other reason than the fact that we have some concern about getting to a place too far, too fast, and there is not much more to it than that."

The S&P 500 has risen more than 61 percent since hitting 12-year lows in March as economic data has suggested the economy is recovering.

S&P 500 futures fell 6.6 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 70 points, while Nasdaq futures slid 10.50 points.

Altria Group Inc posted quarterly profit that beat estimates as its share of the smokeless tobacco market stabilized, while the company saw a sharp drop in cigarette shipments. The stock dipped 1.6 percent to $18.36.