* Xi Jinping comments buoy hopes for economic recovery
* ADP data due at 8:15 a.m. ET (1315 GMT
* Nokia shares up in wake of deal with China Mobile
* Futures up: S&P 3.7 pts, Dow 41 pts, Nasdaq 2.25 pts
By Angela Moon
NEW YORK, Dec 5 U.S. stock index futures rose on
Wednesday after comments from China's new leader boosted global
* Chinese Communist Party chief Xi Jinping said the country
would maintain its fine-tuning of economic policies in 2013 to
ensure stable economic growth. That sparked a rally in Chinese
shares, with the Shanghai Composite Index surging 2.9
* Among his key priorities, Xi listed tax reform,
urbanization and allowing the market to play a bigger role in
setting resource prices.
* On the domestic front, investors awaited ADP's November
employment report, due at 8:15 a.m. ET (1315 GMT). Economists in
a Reuters survey expect 125,000 jobs were created versus 158,000
* Other data due include factory orders and ISM's November
non-manufacturing index, both at 10:00 a.m. ET (1500 GMT).
* Nokia is to partner with China Mobile
, the world's biggest operator, to launch a version of
its flagship Lumia smartphone tailored for the world's largest
market. U.S.-listed shares of Nokia rose
2.9 percent to $3.54 in premarket trading.
* S&P 500 futures rose 3.7 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 rose 41
points, and Nasdaq 100 futures added 2.25 points.
* Repsol filed a U.S. lawsuit to block Chevron
Corp's deal with Argentina's YPF, ramping up
the Spanish oil company's legal response to the loss of its
assets in Argentina.
* Pandora Media Inc lowered its fourth-quarter
earnings forecast, blaming a pull-back by advertisers on
concerns about the U.S. budget, but analysts suggested it was
due more to increasing competition.
* The U.S. Senate on Tuesday voted 98-0 to approve a
wide-ranging defense bill that authorizes $631.4 billion in
funding for the U.S. military, the war in Afghanistan and
* Walt Disney gave a much needed boost to Netflix
, becoming the first major Hollywood studio to use the
video service to bypass premium channels like HBO that
traditionally controlled the delivery of movies to TV
* The U.S. securities regulator is investigating a $10
million stock sale in March by Steven Fishman, chief executive
of close-out retailer Big Lots Inc, who announced his
retirement on Tuesday, the Wall Street Journal reported, citing
a person familiar with the inquiry.
* U.S. stocks finished slightly lower in quiet trading
Tuesday as the back-and-forth wrangling over the U.S. budget
gave investors little reason to act.