US stock futures edge higher; inflation data eyed

NEW YORK, June 12 (Reuters) U.S. stock futures indicated a slightly higher market open on Monday as investors awaited key data on inflation this week that may help gauge the outlook for interest rates.

On the corporate front, investment bank Lehman Brothers Holdings Inc. is scheduled to report results on Monday, followed by Goldman Sachs Group Inc. on Tuesday.

Energy stocks such as Exxon Mobil Corp. may also stand out as oil rose above a barrel.

Global equities markets suffered losses last week as investors worried about the impact of interest rate increases by central banks seeking to curtail inflation. No less than five Federal Reserve top officials are due to speak on Monday, including Chairman Ben Bernanke, who will address a group of banking students at 7:30 p.m. (2330 GMT).

''We are on inflation watch this week,'' said Peter Cardillo, chief market analyst at S.W. Bach&Co. in New York. ''Reports showing tame inflation may help spark a rally in stocks.'' The Labor Department will release its Producer Price Index for May on Tuesday, followed by the Consumer Price Index on Wednesday.

Standard&Poor's 500 futures were up 1.80 points, above fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.

Dow Jones industrial average futures were up 12 points, and Nasdaq 100 futures were up 2.50 points.

Also on the corporate front, investors may focus on eBay Inc.. The online marketplace is set to detail on Tuesday how it plans to combine its Skype Web telephone-call service into its core U.S. auction business, executives said on Sunday. For details, see ID:nN11433844.

Sandra Pianalto, president of the Federal Reserve Bank of Cleveland, is also scheduled to speak on the economy and monetary policy in Florida on Monday.

''The market is spooked with inflation fears,'' said Cardillo. ''Everybody will be paying close attention to what Bernanke and the other Fed officials have to say between now and the next Fed meeting.'' The chances for a 17th consecutive rise in the federal funds rate after the Fed's June 28-29 policy-setting meeting are seen at around 80 percent.

According to a Reuters poll of economists, May's PPI is forecast to edge up by 0.4 percent after a 0.9 percent rise in the prior month. Excluding food and energy, the gauge is expected to rise by 0.2 percent compared with a 0.1 percent rise in April. ID:ECI/US Texas Instruments Inc. plans to announce on Monday early results for a new process that yields memory cells for storing data that are 30 percent smaller than those being made by Intel Corp., the Wall Street Journal reported.

On Friday, the Dow Jones industrial average was down 46.90 points, or 0.43 percent, at 10,891.92. The Standard&Poor's 500 Index .SPX> was down 5.63 points, or 0.45 percent, at 1,252.30. The Nasdaq Composite Index .IXIC> was down 10.26 points, or 0.48 percent, at 2,135.06.

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