* Major indexes coming off two days of losses
* First Solar jumps after results, outlook
* ISM manufacturing index on tap, seen edging lower
* Futures up: Dow 31 pts, S&P 1.7 pt, Nasdaq 7.7 pts
By Ryan Vlastelica
NEW YORK, Nov 1 (Reuters) - U.S. stock index futures edgedslightly higher on Friday, indicating a Wall Street reboundfollowing two days of losses spurred by concerns over FederalReserve policy.
* Equities have been pressured since a Fed statement onWednesday raised concerns about when the central bank wouldbegin to scale back its stimulus program, which has contributedto the S&P 500's advance of 23 percent this year.
* The rally this year has taken the Dow and S&P to repeatedrecord highs, leading some analysts to call for a pullback,especially amid some signs of slowing growth, like an earningsseason marked by tepid revenue.
* Those issues will remain in focus on Friday, with theInstitute for Supply Management's October read on manufacturingdue at 10:00 a.m. EDT (1400 GMT). The index is seen falling to55 from 56.2 in the previous month.
* Results from Chevron Corp are also due Friday.
* Recent economic data has been mixed with the most recentADP National Employment Report coming in below expectations butthe Chicago Purchasing Manager's Index sharply above forecasts.While weak data has been a concern for investors, strong datahas spurred some investors to sell, on expectations it mayencourage the Fed to slow its stimulus - something the centralbank has said it would do once growth meets its targets.
* S&P 500 futures rose 1.7 point and were above fairvalue, a formula that evaluates pricing by taking into accountinterest rates, dividends and time to expiration on thecontract. Dow Jones industrial average futures added 31points and Nasdaq 100 futures rose 7.7 points.
* For the week thus far, both the Dow and S&P are down 0.2percent, coming off three straight weeks of gains, while theNasdaq has slipped 0.6 percent.
* In its statement, the Fed said it would keep buying $85billion of bonds per month, citing weaker economic signals, butit removed a phrase from a previous statement expressing worriesabout credit conditions, which some investors interpreted as asign that the Fed could begin tapering earlier than expected.
* Before the meeting, many market participants wereanticipating that the stimulus plan would not change until atleast early next year.
* In company news, American International Group Inc reported third-quarter earnings late Thursday that slightly beatexpectations, though analysts had expected better results in theinsurer's consumer lines business.
* Solar companies will be in focus after First Solar Inc posted results that beat expectations and raised itsfull-year profit outlook. Shares jumped 8.3 percent to $54.50 inpremarket trading.
* With about 71 percent of S&P 500 companies havingreported, 68.2 percent have topped Wall Street's expectations,above the long-term average of 63 percent, according to ThomsonReuters data. However, only 53.6 percent have topped revenueforecasts, below the 61 percent average since 2002.
* U.S. shares of Vodafone Group edged 0.1 percentlower to $36.81 following a Bloomberg report which said AT&T Inc was exploring strategies for a potential takeover of theBritish mobile operator, citing people familiar with the matter.
* Shares fell for a second straight day on Thursday, thoughthey remained sharply positive for October. In the month, theDow gained 2.8 percent, the S&P 500 added 4.5 percent and theNasdaq rose 3.9 percent.
Vodafone (VOD)
