US STOCKS-Futures up after Bullard comment, weak dollar

                                
   * Crude oil rises as U.S. dollar falls
                                
 * Bullard says Fed should keep MBS program longer
                                
 * Futures up: S&P 11.5 pts, Dow 95 pts, Nasdaq 17 pts
                                
 * For up-to-the-minute market news, click [STXNEWS/US]
                                
(Adds quote, updates prices)
                                
 By Ryan Vlastelica
                                
 NEW YORK, Nov 23 (Reuters) - U.S. stock index futures rose
about 1 percent on Monday, looking to snap a three-session
losing streak as commodity and natural resource stocks gained
on a falling U.S. dollar.
                                
 James Bullard, the St. Louis Federal Reserve president,
said Sunday the central bank should extend its mortgage-related
assets purchase program to give policy-makers more flexibility
as they help the economy recover from a painful recession. For
details, see [ID:nN22246631]
                                
 The U.S. dollar index <.DXY> dropped 0.8 percent on Monday,
while January crude futures jumped 1.3 percent to $78.45 per
barrel. Gold hit a new record high at $1,167.45 an ounce.
                                
 "The dollar is pulling back, and the trend has been that a
weak dollar pushes up commodities and lifts stocks," said
Arthur Hogan, chief market analyst at Jefferies & Co in New
York.
                                
 "After the dip we just had, you'll see an influx of buyers,
which could lift the market possibly more than 1 percent across
the board," he added.
                                
 S&P 500 futures <SPc1> rose 11.5 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 <DJc1> gained 95
points, and Nasdaq 100 futures <NDc1> added 17 points.
                                
 According to a survey released on Monday, the National
Association for Business Economists boosted its forecast for
economic growth over the next year, though it also said the
jobless rate would remain high. [ID:nN20235772]
                                
 Hewlett-Packard Co <HPQ.N>, the last Dow component to
report quarterly results, is scheduled after the market closes.
Campbell Soup Co <CPB.N> is also set to report.
                                
 Monday's economic data will include October existing home
sales.
                                
 Ciena Corp <CIEN.O> will buy Nortel Networks Corp's
<NRTLQ.PK> optical networking and carrier ethernet unit for
$769 million after trumping Nokia Siemens Networks in a
three-day auction, sources told Reuters on Sunday.
[ID:nN22395163]
                                
 Microsoft Corp <MSFT.O> has talked with News Corp <NWSA.O>
about a tie-up that would involve News getting paid to take its
news websites off Google Inc <GOOG.O>, a source familiar with
the matter said on Sunday. [ID:nN22225861]
                                
 China's annual economic growth will reach 10 percent this
quarter and rise even faster in the first quarter of 2010, an
official of the State Council Development Research Centre said
on Monday. [ID:nPEK280835]
                                
 (Editing by Jeffrey Benkoe)