US STOCKS-Futures edge higher after three-day decline
* Futures rebound but Wall St set for weekly decline
* U.S. House passes bill for $633 bln in defense spending
* Nov producer price index data on tap
* Futures up: Dow 7 pts, S&P 7.1 pts, Nasdaq 14 pts
NEW YORK, Dec 13 (Reuters) - U.S. stock index futures edged higher on Friday, rebounding after a three-day decline on Wall Street, though market participants remained cautious ahead of a Federal Reserve policy meeting next week.
* Still, the market was on track to end the week lower. As of Thursday's close, the S&P 500 was set for its worst decline since the end of August.
* Global equities were headed for their biggest two-week drop since June and the dollar hit 5-year highs against the yen on Friday amid concern the U.S. Federal Reserve could decide to start scaling back stimulus at its policy meeting on Dec. 16-17.
* Investors in U.S.-based funds pulled $6.51 billion out of stock mutual funds in the week ended Wednesday, the biggest weekly outflow this year, on worries over an imminent wind-down of Fed bond purchases, data from Thomson Reuters' Lipper service showed on Thursday.
* The U.S. House of Representatives overwhelmingly approved an annual defense policy bill on Thursday, authorizing $633 billion in spending for 2014, strengthening protections for victims of sexual assault in the military and easing some transfers from the prison at Guantanamo Bay in Cuba.
* S&P 500 futures rose 7.1 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 7 points and Nasdaq 100 futures added 14 points.
* Economic data expected on Friday includes the November producer price index at 8:30 a.m. EST (1330 GMT). There are no S&P 500 companies scheduled to report earnings.
* Anadarko Petroleum Corp and its Kerr-McGee unit acted with "intent to hinder" when they spun off Tronox, a paint materials company that later went bankrupt, and should pay billions of dollars in environmental cleanup costs, a judge ruled on Thursday. The decision had been awaited for about a year since a trial wrapped up in late 2012.
* Twitter Inc was forced to nix a change to its "block" feature on Thursday after attracting a wave of protest from users who said the new policy empowered perpetrators of online abuse.
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