NEW YORK, April 10 U.S. stock index futures rose
on Wednesday, with Wall Street set to extend gains a day after
hitting fresh record highs, buoyed by encouraging data from
China that bode well for recovery in the world's second-largest
* Robust economic data from China set a positive tone early
in the day as imports of key commodities rebounded in March,
signaling domestic demand was picking up and would help drive
* With only 5 percent of S&P 500 companies having reported
results so far, almost three-quarters of them have topped
expectations, according to Thomson Reuters data. But quarterly
profits are seen rising just 1.5 percent from a year ago, down
from a January estimate of 4.3 percent.
* While investors are cautious of what the corporate
earnings season will bring, declines in the U.S. equity market
have been taken as buying opportunities throughout this year's
* The lowered expectations could make it easier for
companies to beat analysts' estimates and propel the market
further. The Dow closed at a fresh record on Tuesday, while the
broader S&P 500 is about half a percentage point away from its
* Bed Bath and Beyond and Constellation Brands
are among companies reporting results on Wednesday.
* S&P 500 futures rose 5 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 gained 43
points, and Nasdaq 100 futures added 11 points.
* The White House proposed a budget that sharply trims the
deficit over three years by forcing millionaires to pay more in
taxes and enacting spending cuts that replace the reductions
that went into place last month. President Barack Obama is due
to release his full budget at 11:15 am EDT (1515 GMT).
* Minutes from the Federal Reserve's most recent
rate-setting meeting are due at 2:00 pm EDT. Investors will look
for clues on whether Fed officials were warming to the idea of
scaling back the central bank's bond purchases.
* Hospital operator Health Management Associates Inc
reduced its outlook for 2013 earnings and revenue, citing weak
patient admissions in the first quarter of the year. The stock
was down 11.8 percent at $11.10 in premarket