US stock futures edge higher as tech eyes rebound

NEW YORK, Aug 2 (Reuters) U.S. stock futures rose on Wednesday, signaling a higher open on Wall Street, with technology shares poised to rebound after software maker Adobe Systems Inc. affirmed its quarterly outlook.

Navigation products company Garmin Ltd. may lend support. It posted a stronger-than-expected quarterly profit and raised its forecast, driving its stock up 10 percent before the bell.

For details, see ID:nWNAS4030 Adobe shares were up 4.2 percent in Europe, which could ease investors' concerns about tech companies after Dell Inc.

and several others reported disappointing results in the past two weeks. For details, see ID:nN012394 Video game publisher Electronic Arts Inc. may also be in focus, a day after it posted a smaller-than-expected loss and said this quarter's revenue should top Wall Street's estimates.

ID:nN81476033 ''We are probably going to see a positive day, emanating from tech. We had some pretty good earnings from software companies,'' said Peter Cardillo, chief market analyst at S.W. Bach&Co. in New York.

But as the heat wave, sweeping across the eastern United States, begin taking its toll on the agricultural sector, ''we'll probably see commodity inflation worries resurfacing,'' Cardillo added.

S&P 500 futures were up 2.80 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 rose 29 points, and Nasdaq 100 futures were up 5 points.

Procter&Gamble Co.'s quarterly profit also beat estimates, but looking ahead, the consumer products company said current quarter and fiscal year's earnings may be below Wall Street's expectations.

nN02206955 The stock edged up 0.7 percent to .32 on the Inet electronic brokerage system.

Time Warner Inc., the world's largest media company, also said quarterly operating profit topped forecasts, but its revenue trailed expectations. ID:nN02171569. The stock was up 2.2 percent at .60 on Inet.

Garmin shares jumped 10 percent to on Inet.

In economic news, investors will scrutinize payroll processor ADP's National Employment Index for July. Generally seen as a predictor of the Labor Department's nonfarm payrolls report, the ADP report for June missed the actual nonfarm payrolls number by a wide margin and may be viewed with some skepticism by traders.

The ADP report, due at 8:15 a.m. (1215 GMT), is expected to show 155,000 jobs were created last month.

REUTERS PKS RN1825