US STOCKS-Futures rise on upbeat earnings, data eyed

* DuPont shares up as profit triples

* UBS, Deutsche Bank results reassuring

* Futures up: Dow 43 pts; S&P 6.2 pts; Nasdaq 9.25 pts

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

NEW YORK, July 27 (BestGrowthStock) – Upbeat corporate results from
both sides of the Atlantic lifted U.S. stock index futures on
Tuesday, setting up Wall Street for a fourth straight day of

* Dow component DuPont and Co’s (DD.N: ) second-quarter
profit nearly tripled on strong sales in all five businesses,
while two of Europe’s top banks, UBS (UBSN.VX: )(UBS.N: ) and
Deutsche Bank (DBKGn.DE: )(DB.N: ) posted results that reassured
investors following last week’s regulatory stress tests. For
details see [ID:nN26201739]

* DuPont rose more than 3 percent in premarket trading,
while U.S.-traded shares of UBS jumped 7.3 percent, and
Deutsche Bank gained 2.8 percent.

* “Strong global earnings numbers are continuing to drive
this recent equity rally,” said Andre Bakhos, director of
market analytics at Lek Securities in New York.

“In addition, you’ve had a host of positive economic
numbers adding to a global recovery picture, and investors are
taking note.”

* S&P 500 futures (SPc1: ) rose 6.2 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 43
points, and Nasdaq 100 futures (NDc1: ) added 9.25 points.

* S&P futures traded above their 200-day moving average for
the first time in more than a month, tracking the S&P 500
(.SPX: ) on Monday. Other technical analysis, including the
moving average convergence-divergence and momentum, continue to
show bullish signals for the three top stock indexes.

* “Since that moving average signifies the long-term trend
it is usually taken that all is well, and that we are back on
track from the longer-term horizon,” Bakhos said. “Even
non-technically oriented market participants have some respect
for the 200-day moving average.”

* Oil giant BP Plc (BP.L: )(BP.N: ) plans to offset the entire
cost of its Gulf of Mexico oil spill against its tax bill,
possibly reducing future contributions to U.S. tax coffers by
almost $10 billion. BP took a pretax provision of $32.2 billion
for the second quarter, triggering a $17 billion loss. It also
named American Bob Dudley as its next chief executive,
replacing Tony Hayward, as expected.

* Economic data on tap for Tuesday includes the May reading
of S&P/Case-Shiller home price index, expected to be up 4
percent, compared with April’s increase of 3.8 percent,
according to a Reuters survey.

* The Conference Board’s consumer confidence index for July
is expected to have fallen to 51.0 from 52.9. The data will be
watched more closely than usual because of the slump in the
University of Michigan sentiment survey 10 days earlier.

* An upbeat outlook from FedEx Corp (FDX.N: ), coupled with
encouraging home sales, lifted U.S. stocks (Read more about the stock market today. ) on Monday.

* The Standard & Poor’s 500 rose 1.1 percent, closing above
the 1,100 level for the second straight day, representing the
top of a trading range it had failed to break several times in
the past month.

Investment Basics

(Editing by Jeffrey Benkoe)

US STOCKS-Futures rise on upbeat earnings, data eyed