* Investors focus on Fed comments, indexes near highs
* Facebook rises in premarket, trading could be volatile
* Weekly jobless claims, October Chicago PMI both on tap
* Futures down: Dow 27 pts, S&P 4.3 pts, Nasdaq 14.75 pts
By Ryan Vlastelica
NEW YORK, Oct 31 (Reuters) - U.S. stock index futures edgedlower on Thursday, suggesting the market's rally may have runout of gas, as investors continued to digest recent commentsfrom the Federal Reserve.
* Facebook Inc rose 3.4 percent to $50.70 inpremarket trading, a day after reporting strong growth in itsmobile advertising business. Trading could be volatile as thecompany said it didn't plan to boost the frequency of ads shownto users, comments that erased the social networking giant'ssteep gains after the market closed Wednesday.
* The central bank said Wednesday it had a weaker growthoutlook for the U.S. economy, though it held its stimulusprogram steady for now, as expected. Its viewssparked an equity market decline, with the S&P 500 snapping a four-day streak of gains.
* The Fed's stimulus has fueled the market's gains thisyear, boosting the S&P by more than 23 percent so far in 2013 tohit a series of record highs. However, that advance has comeamid weaker-than-expected economic data and an earnings seasonmarked by weak revenue, leading many analysts to call for apullback. In a pronounced consolidation, the S&P could findsupport at its 14-day moving average of 1,740.39, which is 1.3percent below its current level.
* Earnings and data will continue to be in focus, withweekly jobless claims on tap, along with the October ChicagoPurchasing Managers Index. While weak data could spur worriesabout the pace of economic growth, bullish data may sparkconcerns the Fed will scale back stimulus sooner than expected.
* Claims are seen falling by 11,000 to 339,000 in the latestweek, while the Chicago PMI is seen falling to 55 from 55.7 lastmonth.
* S&P 500 futures fell 4.3 points and were below fairvalue, a formula that evaluates pricing by taking into accountinterest rates, dividends and time to expiration on thecontract. Dow Jones industrial average futures slid 27points and Nasdaq 100 futures lost 14.75 points.
* Expedia Inc soared 19 percent to $59.40 a dayafter reporting third-quarter earnings that beat expectations,while Starbucks Corp dipped 1.6 percent to $79.50 inlight premarket trading a day after giving a disappointingoutlook.
* Of 313 companies in the S&P 500 that reported earningsthrough Wednesday morning, 68.4 percent topped Wall Streetexpectations, above the 63 percent beat rate since 1994 and the66 percent rate for the past four quarters, according to ThomsonReuters data.
* Revenue performance has been mixed, however, with 53.7percent of S&P 500 companies beating expectations, well belowthe 61 percent average since 2002, but above the 49 percent ratefor the last four quarters.
* Exxon Mobil Corp, MasterCard Inc andAmerican International Group are among the companiesscheduled to report earnings Thursday.
* According to two sources familiar with the matter, USAirways Group and American Airlines are consideringgiving up takeoff and landing slots at Washington's RonaldReagan National Airport to win regulator approval of their $11billion merger.
* U.S. stocks fell Wednesday, with trading volatile afterthe Fed's less optimistic outlook on growth. Both the Dow andS&P had hit record intraday highs earlier in Wednesday'ssession.
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