Futures edge up ahead of jobless, services data

NEW YORK (Reuters) - Stock index futures edged higher on Thursday, rebounding from the previous day's declines as investors looked ahead to data on the labor market and services sector.

* Economic reports have been mixed in recent weeks, giving investors no clear signal on the strength of the economic recovery. Flare-ups in the European debt crisis have given traders pause, but a strong earnings season has been a boon to sentiment.

* Initial jobless claims, due at 8:30 a.m. EDT (1230 GMT), are seen falling by 8,000 to 380,000 in the latest week. The numbers come a day ahead of the closely watched April payrolls report and a day after a weak reading on private sector hiring.

* At 10 a.m. EDT (1400 GMT), the Institute for Supply Management's (ISM) April reading on the non-manufacturing sector is seen falling from the prior month. On Tuesday, the ISM report on manufacturing was stronger than expected, sparking a rally.

* Costco Wholesale Corp's April same-store sales rose 4 percent, but were below expectations. Retailers were to report monthly sales on Thursday -- which will be scrutinized for trends in consumer spending.

* S&P 500 futures rose 3.3 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 were up 20 points, and Nasdaq 100 futures added 7.5 points.

* Whole Foods Market Inc reported earnings that beat expectations and raised its full-year profit view late Wednesday. Shares rallied after hours.

* Companies on tap to report results Thursday included American International Group Inc and Kraft Foods Inc .

* Dutch food and chemicals group DSM is buying medical device maker Kensey Nash Corp for $360 million to strengthen its biomedical business.

* European stocks <.FTEU3> rose nearly 1 percent, reversing the previous day's losses as banks rallied after Societe Generale reported a surge in bond, currency and commodities revenue. [ID:nL5E8G2HW4] <.EU>

* The S&P 500 and the Dow edged lower Wednesday after the labor data, sparking concerns that Friday's key jobs report will also disappoint investors.

(Editing by Jeffrey Benkoe)

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