(Repeats to add UPDATE 1 slug)
* Oil prices climb to 2-1/2 year high on Libyan unrest
* HP trims 2011 revenue projections, shares drop
* Futures up: S&P 4.8 pts, Dow 47 pts, Nasdaq 11.25 pts
* For up-to-the-minute market news see []
(Adds quote, updates prices)
By Angela Moon
NEW YORK, Feb 24 (Reuters) - U.S. stock index futures rose
on Wednesday, a day after Wall Street suffered its worst
session since August on geopolitical turmoil in Libya.
The unrest kept U.S. crude futures climbing to a 2-1/2 year
peak above $96 a barrel. Markets were concerned the turmoil
could spread to other top oil producers in the region and cut
more output, weighing on energy stocks. []
A senior aide to Muammar Gaddafi's influential son Saif
resigned, the latest top official to walk out after the Libyan
leader's forces have reportedly killed as many as 1,000 people.
For details, see []
"Investors are definitely eyeing the situation with
caution, but the market here is understanding that Libya is not
a big oil producer and most of its oil goes to Europe," said
Robert Pavlik, chief market strategist at Banyan Partners LLC
in New York.
"But if this spreads further from here to a bigger oil
producer, that will be a game changer since it will directly
impact us here."
U.S. technology shares will be in the spotlight after
Hewlett-Packard Co <HPQ.N> trimmed its 2011 revenue forecast
late Tuesday, citing weak consumer demand for personal
computers and a lackluster showing from its services arm. The
stock fell 9.5 percent to $43.60 in premarket trade.
S&P 500 futures <SPc1> rose 4.8 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 47
points, and Nasdaq 100 futures <NDc1> added on 11.25 points.
Investors will also watch January existing home sales data,
due at 10 a.m. EST (1500 GMT). Existing home sales are expected
to fall in January to an annualized rate of 5.24 million units
from 5.28 million, according to a Reuters survey.
Nasdaq OMX Group Inc <NDAQ.O>, left out of a global
consolidation among exchanges, is exploring options that
include teaming up with a partner on a rival bid for NYSE
Euronext <NYX.PA><NYX.N>, a source said on Tuesday.
The Federal Reserve's monetary policy should remain
accommodative for some time yet, Chicago Federal Reserve
President Charles Evans told the Financial Times.
[]
Lowe's Cos Inc <LOW.N>, the No. 2 U.S. home improvement
chain, gave a lackluster outlook for the current quarter
despite strong fourth-quarter results. The stock fell 0.9
percent to $25.75 premarket. []
The U.S. Air Force may announce whether Boeing Co <BA.N> or
Europe's EADS <EAD.PA> has won a projected $35 billion contract
for 179 refueling planes as early as Thursday, a senior defense
official said.
Car rental company Hertz Global Holdings Inc <HTZ.N> posted
a better-than-expected fourth-quarter profit on strong growth
at its U.S. off-airport business. []
(Reporting by Angela Moon; editing by Jeffrey Benkoe)
