US STOCKS-Futures flat near record levels, HP rises early

* Trading expected to be light ahead of Thanksgiving

* HP revenue boosts optimism about turnaround plan

* Data on labor market, consumer sentiment and durable goods on tap

* Futures up: Dow 21 pts, S&P 1.9 pt, Nasdaq 5.75 pts

By Ryan Vlastelica

NEW YORK, Nov 27 (Reuters) - U.S. stock index futures were little changed on Wednesday, as investors found few reasons to buy ahead of a market holiday with major indexes near all-time or multi-year highs, though Hewlett-Packard rose after its results.

* Trading is expected to be light this week, with many market participants out for the Thanksgiving holiday. The stock market will be closed on Thursday, and will close early on Friday. The light volume could add to market volatility.

* Wall Street has soared this year, largely on the back of expectations for continued stimulus from the Federal Reserve. Both the Dow and S&P 500 have risen more than 20 percent in 2013, hitting a series of all-time highs, while the Nasdaq on Tuesday closed above 4,000 for the first time since 2000.

* Tech shares will be in focus a day after Hewlett-Packard Co beat revenue forecasts, as sales growth in its enterprise group inspired optimism about the computer company's turnaround plan. The stock jumped 7.1 percent to $26.86 in premarket trading.

* S&P 500 futures rose 1.9 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 21 points and Nasdaq 100 futures rose 5.75 points.

* The year's equity gains have been largely uninterrupted, prompting many investors to call for at least a short-term pullback.

* While the Fed's stimulus program is expected to put a floor under equity prices for as long as it continues, recent volatility has come on uncertainty over when the program will end. The central bank has said it would begin to slow it when certain economic measures meet its targets, putting a heightened focus on economic data.

* Several economic reports will be released on Wednesday, including durable goods orders for October, as well as weekly jobless claims. All will be released at 8:30 a.m., with durable goods orders seen falling 1.9 percent and initial jobless claims expected to rise by 7,000 to 330,000 in the latest week.

* After the market opens, the November Chicago Purchasing Managers Index will be released at 9:45 a.m., followed by the final November Thomson Reuters/University of Michigan read on consumer sentiment at 9:55. The PMI (Other OTC: PMIR - news) is seen falling to 60 from 65.9, while the sentiment index is expected to rise to 73.5 from a preliminary reading of 72.