Stock futures up after China data, Fed officials' comments

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By Angela Moon

NEW YORK (Reuters) - U.S. stock index futures pointed to a nearly 1 percent rise at the open on Wednesday after data from China showed the world's third-largest economy was on track for faster growth, while comments from several Federal Reserve officials underscored a belief that low interest rates will remain intact.

* Chinese factory output growth surged to a 19-month high in October, signaling that it has firmly put the worst of the global economic crisis behind it. For details, see

* Top Fed officials said in a string of speeches on Tuesday that high unemployment and reluctant consumers would likely make a U.S. economic recovery weak and erratic.

* Macy's Inc , Computer Sciences Corp , The Progressive Corp and Applied Materials Inc feature among companies due to report results.

* S&P 500 futures gained 9.1 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 rose 78 points, and Nasdaq 100 futures were up 15.50 points.

* Japan's core machinery orders, a highly volatile series regarded as an indicator of capital spending, also jumped 10.5 percent in September, marking the second straight month of gains.

* Unhappy over constraints imposed by U.S. government overseers, American International Group Inc's chief executive, Robert Benmosche, told the company's board last week that he was considering stepping down, the Wall Street Journal said, citing people familiar with the matter.

* U.S. Treasury Secretary Timothy Geithner said on Wednesday he "deeply" believes the United States needs to maintain a strong dollar and said the United States was determined to reduce its budget deficit.

* United Parcel Service Inc , the world's largest package delivery service, expects growth in its volumes next year as the global economy gradually recovers, its chief said on Wednesday.

* Private equity firm TPG Capital could partner with American Airlines in a minority investment in Japan Airlines <9205.T> to prevent its defection to a rival airline group, the chief financial officer of American parent AMR Corp said.

* Shares in Toll Brothers Inc rose 8.7 percent before the bell following the homebuilder's release of preliminary results on Tuesday.

* France's biggest retail bank Credit Agricole posted third-quarter net profit that fell less than many had expected.

* Wednesday's session was expected to be quiet because of the Veterans Day holiday. The U.S. bond market and government offices will remain closed, while other markets will trade normally.

(Editing by Padraic Cassidy)

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