US STOCKS-Futures rise after strong Spanish debt sale

* Euro rallies as Spanish bonds draw strong demand

* BP shares jump on oil spill fund

* Economic activity, jobs, inflation data on tap

* Futures up: Dow 42 pts; S&P 5.4 pts; Nasdaq 8.5 pts

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

NEW YORK, June 17 (BestGrowthStock) – U.S. stock index futures rose
on Thursday as anxiety eased over Spain’s sovereign debt and
investors awaited key jobs and economic activity data expected
to show the recovery is slowly on track.

* The euro hit a three-week high versus the U.S. dollar
after Spain’s government drew strong demand for bond issues but
paid a hefty premium compared with previous deals. For details
see [ID:nLDE65G0UK]

* Weekly jobless claims, due at 8:30 a.m. EDT (1230 GMT),
are expected to be down 6,000 at 450,000. Leading indicators
for May are seen showing a 0.5 percent increase in economic
activity, while the Philadelphia Fed business index for June is
also seen at 20.9 versus May’s 21.4. Both pieces of data come
at 10 a.m. EDT (1400 GMT).

* “The euro is up, and there’s a little less fear over
sovereign debt,” said Peter Cardillo, chief market economist at
Avalon Partners in New York. “If data indicates continued
growth, the market will probably respond in a positive way.”

* BP Plc’s (BP.L: )(BP.N: ) NY-traded ADRs were up 1 percent at
$32.10 as investors welcomed a plan to set up a $20 billion
fund to pay Gulf of Mexico oil spill claims. Chief Executive
Tony Hayward faces grilling from U.S. lawmakers over the spill
later Thursday. [ID:nN17193426]

* S&P 500 futures (SPc2: ) rose 5.4 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 (DJc2: ) gained 42
points and Nasdaq 100 futures (NDc2: ) added 8.5 points.

* Further easing worries over European sovereign debt,
healthy demand at Hungary’s government bond auctions showed the
market is stabilizing after a fall earlier this month, a
government official said.

* Switzerland’s parliament backed a Swiss-U.S. tax treaty
crucial to the future of UBS (UBSN.VX: )(UBS.N: ). [ID:nLDE65G0EZ]

* Among companies set to report quarterly earnings are
grocery chain Kroger Co (KR.N: ).

* In a big victory for the U.S. Federal Reserve, lawmakers
working on a final version of a Wall Street reform bill, agreed
to drop two provisions the Fed worried would subject it to
outside influence. [ID:nN16180718]

* Other data on tap Thursday include consumer price index
numbers and U.S. Q1 current account figures, at 8:30 a.m. EDT
(1230 GMT).

Investing Analysis

(Reporting by Rodrigo Campos; editing by Jeffrey Benkoe)

US STOCKS-Futures rise after strong Spanish debt sale