US STOCKS-Futures up on China data, as Dubai worries ease

                                
   * Dubai unveils restructuring plan
                                
 * China economy ending year on strong note
                                
 * Manufacturing, pending home sales data on tap
                                
 * Futures up: Dow 69 pts, S&P 500 9 pts, Nasdaq 15.25 pts
                                
 By Chuck Mikolajczak
                                
 NEW YORK, Dec 1 (Reuters) - U.S. stocks were poised for a
higher open on Tuesday as concerns over Dubai's debt problems
eased and solid manufacturing data from China boosted sentiment
as investors awaited a host of U.S. economic reports.
                                
 Dubai World, the government-owned investment firm, said it
will restructure about $26 billion of its estimated $59 billion
in debt, reassuring investors the emirate's problems can be
contained. For details, see [ID:nGEE5B0041]
                                
 Bank stocks rose in premarket trade as fears faded that
exposure to Dubai could harm their balance sheets. The Select
Sector SPDR Financial ETF <XLF.P> gained 0.7 percent.
                                
 In China, a pair of business surveys showed the economy is
ending the year on a strong note, laying the groundwork for
solid expansion in 2010. [ID:nPEK127087]
                                
 "Everybody is just kind of taking a little bit of a deep
breath that (Dubai) is not what we thought it might be," said
Peter Kenny, managing director at Knight Equity Markets in
Jersey City, New Jersey.
                                
 "You couple that with enormous strength in Asia and you
have a counterbalance to bearish sentiment, you have a
counterbalance to fear."
                                
 Data due Tuesday includes the Institute for Supply
Management's November manufacturing index at 10 a.m. EST [1500
GMT]. Economists surveyed by Reuters expect a reading of 55.0
versus 55.7 in October, but a stronger-than-expected Chicago
PMI on Monday has boosted expectations.
                                
 Also at 10 a.m., the National Association of Realtors
issues October pending home sales. Economists expect a drop of
0.8 percent, compared with a 6.1 percent rise in the previous
month. An improvement in the housing market is seen as key to
the recovery.
                                
 S&P 500 futures <SPc1> rose 9 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> climbed
69 points, while Nasdaq 100 futures <NDc1> gained 15.25
points.
                                
 In U.S. equities news, Staples Inc <SPLS.O> shares gained 3
percent to $24 in premarket trading after the top
office-products retailer reported higher-than-expected
quarterly profit as cost cuts offset weak sales.
[ID:nN30469390]
                                
 WellPoint Inc <WLP.N> a big Blue Cross Blue Shield health
insurer, provided a full-year 2009 outlook and said it was
taking a big gain after closing the sale of its NextRx drug
benefit business to Express Scripts Inc <ESRX.O>.
[ID:nN01485995]
                                
 General Electric Co <GE.N> and Vivendi SA <VIV.PA> have
tentatively agreed to a deal for GE to buy the French company's
20 percent stake in NBC Universal for $5.8 billion, a source
said Monday, opening the door for GE's joint venture with
Comcast Corp <CMCSA.O>. [ID:nN30466698]
                                
 GE shares rose 1.4 percent to $16.25 premarket, while
Comcast added 2.7 percent to $15.05.
                                
(Editing by Jeffrey Benkoe)