US STOCKS-Futures edge higher ahead of data, Volcker eyed

* Crude rises more than 1 percent

* Retail, housing data on tap

* Futures up: S&P 2.8 pts, Dow 25 pts; Nasdaq 4.25 pts

* For up-to-the-minute market news, click [STXNEWS/US]

NEW YORK, Feb 2 (BestGrowthStock) – U.S. stock index futures rose
slightly on Tuesday ahead of housing and retail sales data,
while investors awaited White House adviser Paul Volcker’s
testimony before a Senate panel urging that lawmakers curb
risks taken by large banks.

* S&P 500 futures (SPc1: ) rose 2.8 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 (DJc1: ) gained 25
points, and Nasdaq 100 futures (NDc1: ) added 4.25 points.

* Volcker, a former Federal Reserve chairman, will tell the
Senate Banking Committee that commercial banks’ proprietary and
speculative activities should not be protected by the
government, according to testimony obtained by Reuters. For
details, see [ID:nN01217116]

* Redbook releases its retail sales index of department and
chain store sales for January at 8:55 a.m. EST (1355 GMT),
while the National Association of Realtors will issue pending
home sales for December at 10 a.m. EST (1500 GMT). Economists
surveyed by Reuters expect a 1.0 percent rise compared with a
16.0 percent fall in the previous month.

* On the earnings front, Dow Chemical Co (DOW.N: ), Pepsi
Bottling Group Inc (PBG.N: ) and Whirlpool Corp (WHR.N: ) all
reported quarterly results.

, United Parcel Service Inc (UPS.N: ) and News Corp (NWSA.O: )
are due to report results.

* Resource-related shares will be in the spotlight after
British oil major BP Plc (BP.L: ) posted a lower-than-forecast 33
percent rise in quarterly profit and cautioned that an
turnaround in operations could slow this year. Its shares
dropped 4.7 percent. [ID:nLDE61105O]

* Crude oil prices (CLc1: ) rose more than 1 percent, topping
$75 a barrel, as traders awaited data on crude and middle
distillate inventories.

* Shares in Barnes & Noble Inc (BKS.N: ) jumped more than 17
percent to $21.20 after the bell after the bookstore chain said
billionaire investor Ronald Burkle’s Yucaipa American
Management sought permission to nearly double its stake in the
to 37 percent without triggering a poison pill.

* U.S. stocks (Read more about the stock market today. ) rose on Monday as better-than-forecast data
from the manufacturing sector and earnings from Exxon Mobil
Corp (XOM.N: ) revived bullish sentiment.

Stock Market Advice

(Editing by Jeffrey Benkoe)

US STOCKS-Futures edge higher ahead of data, Volcker eyed