Stock index futures drop; techs eyed after TI

* By 4:39 a.m. EDT, S&P 500 futures were down 1.1 percent, Dow Jones futures down 1 percent and Nasdaq 100 futures down 1.2 percent.

* But the drop could be limited by signs that bold moves from governments around the world to thaw the credit freeze were starting to work. The interbank cost of borrowing dollars slipped and various dollar-based spreads -- closely watched indicators of dollar funding pressures and financial market dislocation -- eased on Tuesday.

* In early London trading, interbank rates for overnight dollar deposits were indicated in a range of between 0.3 and 1.4 percent compared with around 0.5-1.5 percent early on Monday. Three-month dollar deposit rates were indicated in a range of 3.2-4.2 percent compared with 3.4-4.25 percent early on Monday.

* Asian stocks rallied, and European stocks were also up, lifted by France's plan to lend 10.5 billion euros ($14.12 billion) to boost the capital reserves of the country's top banks. This boosted BNP Paribas , Societe Generale and Credit Agricole shares 8.6-13 percent.

* After the bell on Monday, Texas Instruments warned that its fourth-quarter results would miss expectations, in the latest sign that the economic crisis was hurting demand for everything from cell phones to industrial equipment.

* American Express Co said on Monday third-quarter earnings fell more than 20 percent as it set aside more money to cover growing losses in its credit card business, but operating earnings beat estimates and there was a sigh of relief from investors as results were not as bad as some had expected.

* Swiss drugmaker Roche Holding AG confirmed its commitment to a $43.7 billion bid for the rest of Genentech Inc . The world's largest maker of cancer drugs, which had its offer to buy out U.S. biotech partner Genentech rebuffed, said nine-month sales were hit by the loss of pandemic Tamiflu sales, just behind forecasts, and confirmed its full-year outlook. Roche currently owns 56 percent of Genentech. * Investors await a flurry of quarterly results from top companies on Tuesday, such as DuPont , 3M Co. , Pfizer , Yahoo and Apple Inc , looking for clues on the impact of the credit crisis on the real economy.

* The market will be looking to see just how much the economic slowdown and slumping consumer spending have hurt Apple, as the maker of iPods and Mac computers works to prove that it can sustain its growth.

* Pfizer's third-quarter results are expected to be pressured by weaker sales of its smoking cessation drug Chantix, which faces safety concerns, while the pain drug Lyrica is expected to be a bright spot.

* U.S. shares rose on Monday, boosted by comments from U.S. Federal Reserve Chairman Ben Bernanke, who backed government spending as a fresh measure to boost the U.S. economy following the turmoil since the collapse of Wall Street firm Lehman Brothers.

(Reporting by Blaise Robinson; Editing by Quentin Bryar)

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