Stock futures rise as Brent steadies above 11-year low

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[December 29, 2015]  By Abhiram Nandakumar

(Reuters) - U.S. stock index futures were higher on Tuesday as Brent crude steadied above the 11-year low it hit last week.

* Crude prices edged up as colder weather entered Europe and North America, raising hopes of a short-term uptick in the tepid demand that has plagued the commodity this year. [O/R]

* Global stocks rose, as did the price of gold, as the dollar softened. U.S. stocks closed lower on Monday as a 3 percent drop in oil prices led to a slide in energy stocks.

* Trading volumes are expected to remain thin this week as the year winds down.

* The S&P 500 slipped back into negative turf for the year after Monday's selloff, while the Dow Jones industrial average is about 2 percent lower. The Nasdaq Composite, however, is up 6.4 percent.
 


* Data scheduled for release on Tuesday includes the Conference Board's reading of consumer confidence for December at 10:00 a.m. ET (1500 GMT). The index is expected to rise to 93.8 after falling to its lowest since September 2014 in November.

* Pep Boys shares were up 6.3 percent at $18.50 in premarket trading after the auto parts retailer's board found Carl Icahn's latest offer superior to the deal it accepted from Japan's Bridgestone.

* Dow component Nike was up 1.1 percent at $64.50. The stock surged to record highs last week after reporting strong orders. The world's largest sportswear maker is the best performer on the Dow this year, gaining 32.7 percent.

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Futures snapshot at 6:52 a.m. ET:

* Dow e-minis were up 70 points, or 0.4 percent, with 11,732 contracts changing hands.

* S&P 500 e-minis were up 7.25 points, or 0.35 percent, with 57,783 contracts traded.

* Nasdaq 100 e-minis were up 19.75 points, or 0.43 percent, on volume of 11,780 contracts.

(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Don Sebastian)

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