US STOCKS-Futures up ahead of jobs data, Fed statement

                                
   * Jobs, services sector data on tap
                                
 * FOMC statement on rates and economy due
                                
 * Nissan offers upbeat outlook
                                
 * For up-to-the-minute market news, click [STXNEWS/US]
                                
 (Recasts, adds quote, byline)
                                
 By Rodrigo Campos
                                
 NEW YORK, Nov 4 (Reuters) - U.S. stock index futures rose on Wednesday on
an upbeat forecast from carmaker Nissan and a rebound in European banks, ahead
of jobs data and the Federal Reserve's statement on interest rates and the
economy.
                                
 Investors will also scour the Federal Open Market Committee statement,
expected to reaffirm current supportive policies for the economy, even as signs
of recovery grow. [ID:nFEDAHEAD]
                                
 European bank shares rose with French bank Societe Generale <SOGN.PA> up on
solid third-quarter performance at its French retail banking division and on
bid speculation. Japanese carmaker Nissan Motor Co <7201.T> revised its annual
outlook to a profit from a loss on, lifting Renault <RENA.PA> and its peers.
                                
 Investors also await the monthly ADP National Employment data, due at 8:15
a.m. EST (1315 GMT). Job cuts are forecast to have fallen in October to
190,000.
                                
 "It is interesting that they have ratcheted down the expectations (for job
losses)," said Art Hogan, chief market analyst at Jefferies & Co in Boston.
                                
 "That could be a positive piece of news and will get some attention, but I
think we're going to be in a wait-and-see mode until the Fed rate decision
comes out and we get to pour over their statement."
                                
 Crude futures <CLc1> rose above $80 a barrel, adding to Tuesday's strong
gains, while the U.S. dollar retreated from a one-month high against a basket
of currencies <.DXY>.
                                
 "The dollar drops a bit in large part making a bet on the fact the Fed does
nothing, not just to interest rates but to their statement. I think that's
probably a safe bet," Hogan said.
                                
 S&P 500 futures <SPc1> rose 5.4 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 45 points and Nasdaq 100 futures <NDc1> added 4.75 points.
                                
 Media powerhouse Time Warner Inc <TWX.N> posted higher-than-expected
quarterly profit and raised its full-year earnings forecast. Shares rose in
light premarket trading. [ID:nN04537764]
                                
 Shares of Kraft Foods Inc <KFT.N> fell after the bell Tuesday as the Dow
component missed revenue expectations and posted weaker-than-expected quarterly
revenue. [ID:nN03421549]
                                
 Walt Disney Co's <DIS.N> breakthrough deal Wednesday to build a theme park
in Shanghai marks a major advance for Western media and entertainment groups
trying to crack the tough China market. [ID:nN03523281]
                                
 In other economic news, the ISM non-manufacturing index, due at 10 a.m. EST
(1500 GMT), is expected to show the services sector grew for a second straight
month.
                                
 The S&P 500 and Nasdaq rose slightly on Tuesday as news of a major railroad
acquisition by Warren Buffett's Berkshire Hathaway Inc <BRKa.N> helped
sentiment, but the Dow edged lower, weighed by Intel Corp <INTC.O> after a
downgrade from Morgan Stanley.
                                
 (Editing by Jeffrey Benkoe)