* S&P 500 off more than 2 percent from record close
* Investors continue to watch geopolitical tensions
* ReneSola rallies in premarket after results
* Futures up: Dow 27 pts, S&P 4 pts, Nasdaq 9.25 pts
By Ryan Vlastelica
NEW YORK, Aug 12 U.S. stock index futures were
higher on Tuesday, indicating a potential third straight day of
gains as investors continued to bet that tensions in Ukraine
would not escalate dramatically.
* Equities have come under pressure because of the problems
between Russia and Ukraine, with the S&P 500 at one point down
about 4 percent from a record closing high in late July. The
benchmark has recovered some of the decline but remained more
than 2.5 percent below its record, suggesting traders may see
bargains in the market.
* The gain implied by futures came despite ongoing concerns
about the region, with Ukraine reporting that Russia had massed
45,000 troops on its border. Russia said a convoy of 280 trucks
carrying humanitarian aid had set off for Ukraine, and Western
governments warnings against using help as a pretext for an
* Investors remained concerned about the fallout from any
escalation in tensions. In Germany, geopolitical anxiety hit
economic sentiment in August, the ZEW think tank said, with
investor morale dropping to its lowest since December 2012.
Market participants monitored other areas of unrest, including
the recent violence in the Gaza Strip and Israel and U.S. air
strikes in Iraq.
* S&P 500 e-mini futures rose 4 points and were below
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 e-mini futures
added 27 points, and Nasdaq 100 e-mini futures rose 9.25
* ReneSola Ltd was one of the New York Stock
Exchange's biggest premarket movers, jumping 6.7 percent to
$3.03 after it reported a second-quarter swing to profit on
* Consumer Reports magazine said Tesla Motors Inc's
Model S sedan had "more than its share of problems" a year after
giving the car top marks. Shares were little changed premarket.
* Hedge fund ValueAct Capital LLC said it had taken a $1
billion stake in Rupert Murdoch-controlled Twenty-First Century
Fox Inc, the film and TV company. ValueAct's chief
executive officer told Reuters he supported the independent
business plan of Valeant Pharmaceuticals International Inc
and that he doesn't believe it has to buy
Allergan Inc. ValueAct is a top Valeant shareholder.
(Editing by Jeffrey Benkoe)