* S&P 500 coming off three days of gains, record close
* Investors looking for catalysts after rally
* Walt Disney, Whole Foods among companies on tap to report
* Indexes up: Dow 37 pts, S&P 2.1 pts, Nasdaq 6.5 pts
By Ryan Vlastelica
NEW YORK, May 7 (Reuters) - U.S. stock index futures were
flat on Tuesday as investors found little reason to keep pushing
shares higher following a day on which the S&P 500 ended at yet
another record high.
* Wall Street has advanced more than 13 percent so far this
year, outpacing gains for all of 2012 in about five months. The
gains have come on strong corporate results and accommodative
policies from the Federal Reserve, two factors that may now be
priced into markets.
* Equities have thus far this year gone without a sustained
correction as investors use any market decline as a buying
opportunity. While many analysts expect markets to trend higher,
several have also called for a near-term pullback, citing a lack
of positive catalysts and recent economic data indicating an
economy that continues to struggle.
* While the U.S. April non-farm payroll report, released
last Friday, was much stronger than expected and helped fuel
recent market gains, manufacturing data has been mixed and
overseas data has also pointed to signs of stalling growth.
* S&P 500 futures rose 2.1 points and were above 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 37
points and Nasdaq 100 futures rose 6.5 points.
* The S&P 500 has risen for the past three sessions,
climbing 2.2 percent over that period. The index also reached an
all-time intraday high of 1,619.77 in Monday's session.
* The quarterly corporate earnings season is winding down,
but a number of major companies are on tap to report on Tuesday,
including Walt Disney Co, Whole Foods Market and
Marathon Oil Corp.
* Emerson Electric Co early Tuesday reported
second-quarter sales that were slightly under expectations and
cut its full-year outlook.
* Earnings have largely been positive, with 68.5 percent of
S&P 500 companies surpassing estimates so far. At the same time,
revenue have been disappointing and second-quarter estimates
have fallen as outlooks remain more negative than positive.
* Overseas, European shares rose 0.3 percent on the
back of positive earnings and expectations that central banks
would continue to stimulate the economy.
* New York Attorney General Eric Schneiderman late Monday
said he plans to sue Bank of America Corp and Wells
Fargo and Co for violating the terms of a settlement
designed to end mortgage servicing abuses. Also on Monday, BofA
said it would settle claims with MBIA for $1.6 billion,
news that lifted shares in both companies on Monday.
* Shares of Bank of America edged 0.3 percent higher to
$12.92 in premarket trading.
* Wall Street closed modestly higher on Monday, with the S&P
500 pushing further above 1,600 as BofA's settlement with MBIA
lifted financial shares. A rally at Apple Inc also