US stock futures rise; techs may gain on Dell

NEW YORK, Nov 22 (Reuters) U.S. stock index futures pointed higher on Wednesday after Dell Inc. reported better-than-expected earnings, setting the stage for gains by technology shares a day before the Thanksgiving holiday.

Trading volume is likely to be light as many market players leave work early before Thursday's holiday. The U.S. Treasury bond market is expected to close at 2 p.m. (1900 GMT) on Wednesday.

Shares of Dell jumped 8.8 percent after the close on Tuesday as the computer maker reported preliminary results that beat analysts' expectations. For details, see ID:nN21431746.

''We've got a market that has done terrifically well over last three weeks, and it looks like it wants to continue to do that today,'' said Art Hogan, chief market analyst at Jefferies&Co. in New York. ''Oil's back below 60, so that is good news. Dell was a pleasant surprise, so that good news is going to help technology.'' S&P 500 futures were up 2.1 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 21 points, and Nasdaq 100 futures were up 2.10 points.

Caterpillar Inc., the world's largest construction machinery maker, may help the Dow after a company executive on Wednesday said sales in China are expected to quadruple as a percentage of its global sales by 2010 as the country rapidly builds more ports, energy projects and roads ID:nPEK153795.

Dell's stock rose NEW YORK, Nov 22 (Reuters) U.S. stock index futures pointed higher on Wednesday after Dell Inc. reported better-than-expected earnings, setting the stage for gains by technology shares a day before the Thanksgiving holiday.

Trading volume is likely to be light as many market players leave work early before Thursday's holiday. The U.S. Treasury bond market is expected to close at 2 p.m. (1900 GMT) on Wednesday.

Shares of Dell jumped 8.8 percent after the close on Tuesday as the computer maker reported preliminary results that beat analysts' expectations. For details, see ID:nN21431746.

''We've got a market that has done terrifically well over last three weeks, and it looks like it wants to continue to do that today,'' said Art Hogan, chief market analyst at Jefferies&Co. in New York. ''Oil's back below 60, so that is good news. Dell was a pleasant surprise, so that good news is going to help technology.'' S&P 500 futures were up 2.1 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 21 points, and Nasdaq 100 futures were up 2.10 points.

Caterpillar Inc., the world's largest construction machinery maker, may help the Dow after a company executive on Wednesday said sales in China are expected to quadruple as a percentage of its global sales by 2010 as the country rapidly builds more ports, energy projects and roads ID:nPEK153795.

Dell's stock rose $2.18 to $27 in electronic trading after closing on the Nasdaq at $24.82.

Investors will focus on the final November reading of the University of Michigan's consumer sentiment index at 10 a.m. (1500 GMT). The index is forecast to fall to 93.1 from 93.6 previously, according to economists polled by Reuters.

Data on weekly initial jobless claims are due at 8:30 a.m. (1330 GMT) and expected to show a rise to 310,000 from 308,000.

Crude oil futures slipped 27 cents to $59.90 a barrel in electronic trading after big gains in previous sessions and before U.S. inventory data on Wednesday forecast to show a further rise in crude inventories.

J. Crew Group Inc. shares rose 4.4 percent to $36.90 in extended-hours trading after the retailer reported third-quarter earnings that came in above estimates.

REUTERS CS BD1836 .18 to in electronic trading after closing on the Nasdaq at .82.

Investors will focus on the final November reading of the University of Michigan's consumer sentiment index at 10 a.m. (1500 GMT). The index is forecast to fall to 93.1 from 93.6 previously, according to economists polled by Reuters.

Data on weekly initial jobless claims are due at 8:30 a.m. (1330 GMT) and expected to show a rise to 310,000 from 308,000.

Crude oil futures slipped 27 cents to .90 a barrel in electronic trading after big gains in previous sessions and before U.S. inventory data on Wednesday forecast to show a further rise in crude inventories.

J. Crew Group Inc. shares rose 4.4 percent to .90 in extended-hours trading after the retailer reported third-quarter earnings that came in above estimates.

REUTERS CS BD1836