US STOCKS-Wall St set to rise on strong earns, Volcker eyed

* UPS beats view, shares rise

* Volcker to urge lawmakers curb big banks’ risk

* Pending home sales data on tap

* Futures up: S&P 1.9 pts, Dow 13 pts; Nasdaq 2 pts

* For up-to-the-minute market news, click [STXNEWS/US]
(Updates prices, changes quote)

By Rodrigo Campos

NEW YORK, Feb 2 (BestGrowthStock) – U.S. stock index futures
pointed to a slightly higher open on Tuesday as earnings
reports from companies including economic bellwether United
Parcel Service Inc (UPS.N: ) encouraged investors.

UPS, the world’s largest package delivery service, reported
a nearly 10 percent drop in fourth-quarter profit (Read more your timing to make a profit.), but said it
expected a sharp increase in earnings for 2010. The stock rose
2.3 percent to $59.72 in premarket trade. UPS is considered a
bellwether because it handles so much of the nation’s shipping.
For details, see [ID:nN02235851]

Homebuilder D.R. Horton Inc (DHI.N: ) posted its first
quarterly profit in almost three years, helped by a large tax
credit, beating estimates and sending its shares up 7.5 percent
to $12.80 premarket. [ID:nN02230517]

“The focus is going to remain on earnings,” said Peter
Boockvar, equity strategist at Miller Tabak & Co in New York.

“People are reading through these reports to gauge the
sustainability of the economic rebound that we seem to be
having, and the degree of that improvement.”

S&P 500 futures (SPc1: ) rose 1.9 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 13
points, and Nasdaq 100 futures (NDc1: ) added 2 points.

According to the latest available Thomson Reuters data, 77
percent of the S&P 500 companies reporting so far have beaten

Investors will also eye White House adviser Paul Volcker’s
testimony before a Senate panel urging lawmakers to curb risks
taken by large banks.

Volcker is expected to 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. His comments could hurt bank
stocks, which tumbled when reports on the proposal broke last
month. [ID:nN01217116]

“If (Volcker) backs off a little bit, or if people gain
confidence (the proposal) is not going to be as pointed as it
seemed when it was first announced, then maybe that will help
the banks,” Boockvar said.

The National Association of Realtors will issue pending
home sales for December at 10 a.m. (1500 GMT). Economists
expect a 1.0 percent rise, compared with a 16.0 percent fall in
the previous month.

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(Editing by Jeffrey Benkoe)

US STOCKS-Wall St set to rise on strong earns, Volcker eyed