* Wall Street coming off worst week of 2013
* Halliburton rallies in premarket after results
* Power-One soars after $1 billion purchase offer from ABB
* Futures up: Dow 65 pts, S&P 7.4 pts, Nasdaq 17 pts
By Ryan Vlastelica
NEW YORK, April 22 U.S. stock index futures were
higher on Monday, rebounding from stocks' worst week 2013, as
the latest quarterly earnings included major companies ranging
from Caterpillar Inc to Halliburton Co to Texas
* Wall Street is coming off a week of extreme volatility,
with the CBOE Volatility index jumping 24 percent, the
biggest weekly gain for the so-called fear index this year.
* The swings were largely driven by weak corporate earnings
and signs of slowing growth from China, which contributed to a
precipitous drop in commodity prices. The week's decline fueled
talk that the market's long-awaited pullback had arrived, though
the S&P remains up 9 percent on the year.
* However, equities rose on Friday, and the follow-through
implied by Monday's futures suggested that investors may still
use market weakness as a buying opportunity.
* Caterpillar reported results early Monday, and shares
dipped 0.1 percent to $80.35 in premarket trading. Halliburton
rose 4.8 percent to $39.01 in premarket trading after posting
* Earnings also due on Monday included Texas Instruments and
* With 91 S&P 500 components having reported, 70 percent of
companies have topped profit expectations, according to Thomson
Reuters data. Analysts expect earnings growth of 2.1 percent
this quarter, up from expectations of 1.5 percent at the start
of the month.
* S&P 500 futures rose 7.4 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 65
points and Nasdaq 100 futures rose 17 points.
* Investors will be looking to the S&P 500's 50-day moving
average of 1,543.9, which could serve as a level of market
support. The index closed under that level for the first time
this year on Thursday but rebounded above it on Friday.
* Power-One Inc soared 56 percent to $6.29 in
premarket trading after ABB agreed to buy the company
for about $1 billion.
* Overseas, European shares rose 0.8 percent,
lifted by signs of political progress in Italy following the
re-election of the country's president.
* U.S. stocks mostly rose on Friday, boosted by strong
results from Google Inc and Microsoft Corp.
However, the Dow was severely pressured by weakness in IBM
, McDonald's and General Electric Co, all
of which reported earnings that disappointed investors.