Futures rise as investors look past China factory data

[November 11, 2015]   By Abhiram Nandakumar

(Reuters) - U.S. stock index futures were higher on Wednesday after mixed economic data out of China suggested that Beijing may need to provide further stimulus to kickstart growth, even as investors brace for a possible rise in U.S. interest rates next month.

* Industrial production in China grew at its slowest pace in seven months in October, another sign of deflationary pressure in the world's second-largest economy.

* However, retail sales for the same month expanded more than expected as consumer sentiment remained strong.

* In another sign that the Chinese consumer remains upbeat, e-commerce giant Alibaba <BABA.N> said sales in its Singles' Day online shopping festival had crossed last year's record of $9.3 billion after just 12 hours, and could total $13.8 billion by the end of the day.

* Alibaba's shares were up 1.7 percent at $82.80 in premarket trading.

* Closer to home, Macys <M.N> reports quarterly earnings before the bell. Macy's shares were slightly lower, but JC Penney's stock <JCP.N> was up 6.6 percent at $9.25 after it reported a 6.4 percent rise in third-quarter same-store sales.

* Global stocks rose on Wednesday, led by strong earnings reports in Europe and the increased prospect of further stimulus measures by central banks in Europe and Asia.

* U.S. stocks closed mostly higher on Tuesday, with the S&P 500 snapping a four-day losing streak, as gains in consumer discretionary stocks offset a slide in Apple's shares <AAPL.O> amid concerns about demand for its new iPhones. Apple's shares were slightly lower in premarket trading on Wednesday.

* Media General <MEG.N> was up 3.3 percent at $15.80 after Bloomberg reported that the regional TV broadcaster was leaning toward agreeing to be bought by Nexstar <NXST.O>, instead of proceeding with its plan to buy Meredith Corp <MDP.N>.

Futures snapshot at 7:21 a.m. ET:

* S&P 500 e-minis <ESc1> were up 6.25 points, or 0.3 percent, with 102,732 contracts traded.

* Nasdaq 100 e-minis <NQc1> were up 12.25 points, or 0.26 percent, on volume of 17,982 contracts.

* Dow e-minis <1YMc1> were up 50 points, or 0.28 percent, with 14,902 contracts changing hands.

(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Ted Kerr)

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