Futures rise with earnings after two days of losses, data due

[January 29, 2015]  NEW YORK (Reuters) - U.S. stock index futures climbed on Thursday, rebounding after two days of sharp losses, ahead of housing and labor market data and another busy day for corporate earnings.

* The S&P 500 dropped on Tuesday and Wednesday, seeing its first back-to-back declines of more than 1 percent since October, dragged by plummeting energy shares after U.S. crude prices dropped to near six-year lows as the U.S. government reported record-high inventories.

* Alibaba Group shares fell 6 percent in premarket trading after it posted revenue that missed Wall Street expectations. The decline took shares of Yahoo, which announced the spinoff of its Alibaba stake Wednesday, down 4.8 percent.

* Coach Inc shares rose 6.7 percent in premarket trading after the handbag maker posted a better-than-expected quarterly profit.

* Ford shares gained 2 percent in premarket trading after quarterly earnings beat Wall Street earnings expectations and the automaker maintained its 2015 profit forecast.

* Data due on Thursday includes weekly jobless claims applications at 8:30 a.m. and December pending home sales at 10:00 a.m. (1500 GMT).

Futures snapshot at 7:43 a.m.:

* S&P 500 e-minis were up 7.5 points, or 0.38 percent, with 175,249 contracts changing hands.

* Nasdaq 100 e-minis were up 9 points, or 0.22 percent, in volume of 25,880 contracts.

* Dow e-minis were up 75 points, or 0.44 percent, with 26,756 contracts changing hands.

(Reporting by Rodrigo Campos; Editing by Bernadette Baum)

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