US STOCKS-Futures gaining, pointing to trading rebound

* Trading seen volatile ahead of weekend Greek elections
* Michael Kors rallies after results, outlook
* Futures up: Dow 76 pts, S&P 5.2 pts, Nasdaq 14.5 pts

By Ryan Vlastelica
NEW YORK, June 12 (Reuters) - U.S. stock index futures rose
on Tuesday, indicating stocks would open higher after a late
sell-off in the previous session, as investors continued to
digest a bailout plan for Spanish banks.
While the euro zone plan to lend spain up to $125 billion
did ease some concerns about the region's debt crisis, the June
17 election in Greece is still viewed as a major headwind that
could result in that country leaving the euro currency.
"We'll be in a volatile holding pattern until the elections
in Greece, and any headline during the day could really cause us
to change direction," said Cort Gwon, chief strategist at
HudsonView Capital Management in New York. "Sentiment changes
very quickly these days, and it wouldn't surprise me if we saw
another late sell-off."
Volatility was expected to persist, with trading volumes
light. On Monday, the first trading day after the Spain aid
package was announced, shares rallied early in the session
before steadily losing ground, ending 1 percent lower.
U.S. equities have been closely correlated to developments
in Europe's financial crisis on concerns about how it might
impact global growth prospects.
In the United States, recent U.S. economic indicators,
notably the May payroll report, have pointed to anemic growth,
while data from China has also been sluggish. The S&P 500 is
down 7 percent in the second quarter.
Economic indicators on tap for Tuesday include May U.S.
import prices, which are expected to drop 1.0 percent from
April, according to a poll of economists by Reuters. The May
U.S. federal budget is also due.
S&P 500 futures rose 5.2 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 added 76
points and Nasdaq 100 futures rose 14.5 points.
Michael Kors Holdings Ltd surged 12.5 percent to
$42.97 in premarket trading after posting stronger
fourth-quarter profit growth and giving a strong full-year
outlook.
JPMorgan Chase & Co has hired an ex-Goldman Sachs
energy trader to expand its customer flow business in Asia amid
tightening regulation over proprietary trading, a source close
to the matter said.
According to a report in the Wall Street Journal, some
JPMorgan executives and directors were alerted to risky
practices by a team of London-based traders two years before
botched bets cost the bank over $2 billion.