US STOCKS-Futures up after Obama speech, Procter, Ford earns

* Obama says job creation top priority

* Jobless claims and durable goods data on tap

* Futures up: Dow 37 pts, S&P 6.3 pts, Nasdaq 6.25 pts

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

By Ryan Vlastelica

NEW YORK, Jan 28 (BestGrowthStock) – U.S. stock index futures were
higher on Thursday in the wake of President Barack Obama’s
State of the Union speech, which had no new plans to tighten
Wall Street oversight, and after strong results from Procter &
Gamble and Ford.

* Federal Reserve Chairman Ben Bernanke’s nomination for a
second term faces a decisive day in the Senate on Thursday,
when his confirmation vote looks set to go ahead.

* In the speech, Obama put job creation at the top of his
agenda, and while pledging tough new rules for Wall Street, he
said he was “not interested in punishing banks,” backing off
from fiery rhetoric.

* He promised not to abandon his struggle to overhaul
healthcare, placing stocks in related sectors in the spotlight.
For details, see [ID:nOBAMA]

* S&P 500 futures rose 6.3 points and were above fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration of the
contract. Dow Jones industrial average futures gained 37
points, and Nasdaq 100 futures added 6.25 points.

* Procter & Gamble Co (PG.N: ) rose 1.4 percent to $61.66 in
premarket trading after it reported quarterly results, while
Ford Motor Co (F.N: ) gained 5 percent to $12.13 after recording
its first full-year profit since 2005. [ID:nN28204909].

* Dow components 3M Co (MMM.N: ) and AT&T Inc (T.N: ) also
reported earnings.

* Investors looked ahead to a new round of economic data.
Weekly initial jobless claims are seen falling from the prior
week, while December durable good orders are expected to rise.
The National Activity index for December is also on tap, with
all the data scheduled for release at 8:30 a.m. EST (1330 GMT)

* Overseas, Nokia Corp (NOK1V.HE: )(NOK.N: ) reported
fourth-quarter earnings and sales that beat expectations.
U.S.-listed shares of the mobile phone maker surged 8.1 percent
in premarket trading. [ID:nLDE60R1BS]

* Late Wednesday, Qualcomm Inc (QCOM.O: ) cut its revenue
estimates, citing a slow economic recovery. [ID:nN27200838]

* Bernanke’s nomination for a second term faces a decisive
day in the Senate on Thursday. Polls show he has a majority
needed to overcome efforts to block his nomination.

* U.S. stocks (Read more about the stock market today. ) rose on Wednesday after the Fed pledged to
keep interest rates near zero, and Apple Inc (Read more about Apple stock future.) (AAPL.O: ) unveiled
a new portable computer.

Stock Basics
(Editing by Jeffrey Benkoe)

US STOCKS-Futures up after Obama speech, Procter, Ford earns