U.S. stock index futures fell on Friday as uncertainty gripped markets following Egyptian President Hosni Mubarak's refusal to step down after more than two weeks of civil protests throughout the country.
* Mubarak's pledge on Thursday to delegate some of his power to the vice president seemed to briefly alleviate fears unrest could spread to neighboring countries. The S&P 500 and Nasdaq indexes pushed ahead on the news, ending positive.
* But an increasingly tense situation has raised fears of violence in the most populous Arab nation, a key U.S. ally in an oil-producing region.
* Brent oil prices rose 0.7 percent to trade above $101 a barrel on fears oil flows could be disrupted. Partly because of the Egypt crisis, Asian stocks were on course for their biggest weekly loss in nine months and European shares were trading lower.
* S&P 500 futures fell 5.6 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 dropped 44 points and Nasdaq 100 futures lost 7.75 points.
* The S&P 500, which closed at 1,321.87 Thursday, has technical support at the 1,313 and 1,300 --meaning a drop to those levels could entice buyers.
* Two S&P 500 companies are due to report earnings before the market open: Coca-Cola Enterprises Inc
* The Thomson Reuters/University of Michigan consumer sentiment data is due out at 9:55 a.m. Economists expect a reading of 75.0 compared with 74.2 in the final January report.
(Reporting by Rodrigo Campos; Editing by Kenneth Barry)