US STOCKS-Futures higher after China data, Tuesday climb

NEW YORK, June 9 (BestGrowthStock) – U.S. stock index futures were
higher on Wednesday as Wall Street looked to build on gains in
the previous session after unofficial data showed Chinese
exports blew past expectations, easing concerns about a global
recovery.

* Chinese exports jumped about 50 percent in May from a
year earlier, sources told Reuters. If the data is officially
confirmed on Thursday, the surge would suggest the risk of a
Chinese economic downturn is very small. The report fueled a
rise in stock markets globally. For details, see
[ID:nTOE65805R]

* On Tuesday, U.S. stocks (Read more about the stock market today. ) mostly rose on strength in
materials and financial shares. Late-day volatility led to
equities closing at or near session highs after a wobbly
session.

* Investors have been looking for signs that Wall Street
will reverse a slide that has pushed the S&P 500 into
correction territory — a decline of more than 10 percent from
its April 23 high.

* “Definitely, there has been a search for a bottom for
this recent freefall and yesterday’s stock action was very
encouraging in that regard, particularly the final push at the
end of the day,” said Rick Meckler, president of investment
firm LibertyView Capital Management in New York.

* “You got a very, very strong finish which easily could
have been a continued rout of stock prices. So whenever you get
that, it’s like sticking your toe back in the water.”

* S&P 500 futures (SPc1: ) rose 6.3 points and were slightly
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 51 points, and Nasdaq 100 futures (NDc1: ) rose 9 points.

* Texas Instruments Inc (TXN.N: ) will be in focus after the
chipmaker said second-quarter earnings and revenue would be at
the high end of its forecast on strong broad-based demand for
its chips, particularly from industrial customers.
[ID:nN08218836]

* Technology companies have a large sales base in Europe,
and their shares have been under pressure recently as investors
questioned how the euro-zone debt crisis will affect profits.

* U.S. healthcare software company Allscripts Misys
Healthcare Solutions Inc (MDRX.O: ) said Wednesday it will buy
rival Eclipsys Corp (ECLP.O: ) in a $1.3 billion all-stock deal
that could create a market leader in electronic healthcare
records. [ID:nLDE6580C2]

* Banco Santander (SAN.MC: )(STD.N: ) said it will pay $2.5
billion for the 24.9 percent of Santander Mexico it does not
own, showing that the Spanish bank’s expansion ambitions have
not been slowed by a raft of purchases in the past 18 months.
[ID:nLDE6580GY]

* Sprint Nextel Corp (S.N: ) said Tuesday it inadvertently
overstated launch-day sales of the much-anticipated EVO 4G
phone from HTC Corp (2498.TW: ), touted as a serious competitor
to Apple Inc (Read more about Apple stock future.)’s (AAPL.O: ) iPhone 4. [ID:nN08101785]

* Federal Reserve Chairman Ben Bernanke will testify before
the U.S. House Budget Committee at 10 a.m. EDT (1400 GMT). The
Fed’s Beige Book survey of economic activity will be released
at 2 p.m. EDT (1800 GMT)

* European shares rose 1 percent at midday on Wednesday
after the report on Chinese export data, while concerns over
BP’s (BP.L: ) dividend were a drag on the market.
[ID:nLDE6580SP]

Stock Market Advice

(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)

US STOCKS-Futures higher after China data, Tuesday climb