* Brent crude oil rises above $124
* Major European markets closed for Easter weekend
* Futures up: Dow 34 pts, S&P 3.4 pts, Nasdaq 6.25 pts
* For up-to-the-minute market news see []
(Updates with Fed outlook, Radio Shack results, updates
prices)
By Edward Krudy
NEW YORK, April 25 (Reuters) - Upward momentum from a raft
of recent strong earnings reports helped lift U.S. stock index
futures on Monday, although traders eyed rising oil prices as a
potential negative for the market.
Of S&P 500 companies that have reported to date, 75 percent
beat analysts' expectations. That is just above the average
over the last four quarters but well above the average of 62
percent since 1994, according to Thomson Reuters data.
Companies reporting earnings on Monday include Express
Scripts <ESRX.O> and Ameriprise Financial <AMP.N>. This week is
a hectic one for earnings with another 180 S&P 500 companies
reporting their quarterly scorecards.
"With no negative news hitting the tapes recently, the
market is riding a wave of positive earnings, which is carrying
the recent upside momentum," said Andre Bakhos, director of
market analytics at Lek Securities in New York. "All this in
the face of higher oil prices."
Brent crude oil <LCOc1> rose above $124 a barrel, pushed
higher by an escalation of violence in the oil-producing Middle
East, as well as post-election unrest in OPEC member Nigeria.
[]
Bakhos noted that activity would likely be subdued as many
major European markets remain closed over the long Easter
weekend. U.S. traders are returning after markets were closed
on Friday for the Easter holiday weekend.
Silver jumped more than 5 percent and gold rose to a record
on Monday as investors sought shelter against a weaker dollar,
while prices of grains and crude oil surged on supply fears.
S&P 500 futures <SPc1> added 3.4 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 34
points and Nasdaq 100 futures <NDc1> rose 6.25 points.
The U.S. Federal Reserve is meeting this week and will hold
the first of four news conferences on Wednesday. Investors are
looking for clues about the direction of monetary policy when
the Fed's bond-buying program ends in June.
RadioShack Corp's <RSH.N> quarterly profit fell due to
weakness in its T-Mobile business and higher costs related to
the roll-out of its wireless kiosks in Target <TGT.N> stores.
[]
Road construction equipment maker Astec Industries Inc
<ASTE.O> posted better-than-expected quarterly results helped
by higher asphalt and mining group revenue.
U.S. stocks posted their first positive week in three as
healthy earnings news lifted Wall Street on Thursday.
Japan's Nikkei stock average inched down in thin trade on
Monday as investors grew cautious ahead of key corporate
earnings reports and a closely watched U.S. Federal Reserve
meeting this week but buoyant shipping stocks provided support.
NYSE Euronext <NYX.N> sees cost savings in its $9.8 billion
deal with Deutsche Boerse <DB1Gn.DE> at closer to 400 million
euros ($583 million), up by about a third from its initial
estimate, according to a Big Board spokesman on Sunday.
(Editing by Kenneth Barry)
