US STOCKS-Futures rise after Europe summit results

NEW YORK (Dec 9): U.S. stock index futures rose on Friday after
European Union leaders agreed on measures that partially addresses the
region's crippling sovereign debt crisis.

* The summit agreed on stricter budget rules for the euro zone but
failed to secure changes to the EU treaty among all the member
countries. Investors viewed the agreement positively, with the
FTSEurofirst 300 index of top European shares gaining 1.1 percent.

* Equities have risen in anticipation of a deal, with the S&P 500
up 6.5 percent since Nov. 25. But Wall Street tumbled on Thursday after
the European Central Bank dashed hopes for an even stronger deal.

* Banks, which have been pressured by the European uncertainty,
rallied in premarket trading. Bank of America Corp rose 1.8 percent to
$5.69, while JPMorgan Chase & Co added 1.2 percent to $32.60, and
Citigroup Inc rose 1.8 percent to $28.25.

* S&P 500 futures rose 11.5 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 jumped 106 points, and Nasdaq 100 futures added 14.75
point.

* Chipmakers will be in focus a day after Texas Instruments Inc cut
its revenue outlook for the current quarter, warning that demand was
broadly lower.

* The Commerce Department will release October International Trade
data at 8:30 a.m. EST (1330 GMT). Economists expect a deficit of $43.5
billion in October versus a September deficit of $43.11 billion.

* The Thomson Reuters/University of Michigan Surveys of Consumers
preliminary December consumer sentiment index will come at 9:55 a.m. EST
(1455 GMT) Economists predicted a reading of 65.5, compared with 64.1
in the final November report.

* Wall Street fell sharply on Thursday after the ECB dashed hopes of a
financial "bazooka" to contain the crisis. The S&P and Nasdaq each
fell about 2 percent, while the Dow was off more than 1 percent. -
Reuters

413