US STOCKS-Futures rise as big deals, earnings hope dull tariff fears


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    * Futures up: Dow 0.75 pct, S&P 0.53 pct, Nasdaq 0.51 pct 

    By Amy Caren Daniel
    July 12 (Reuters) - U.S. stock index futures bounced back on
Thursday, from a drop a day earlier on renewed fears of a
Sino-U.S. trade war, as oil prices rose and a couple of big
deals helped rekindle optimism as the earnings season kicks off.
    Broadcom's  AVGO.O  shares fell 8.8 percent in premarket
trading after the chipmaker's $18.9 billion deal to buy business
software maker CA Inc caught investors and analysts by surprise.
CA's shares jumped 18.6 percent.*:nL1N1U71YC
    Comcast  CMCSA.O  made a $34 billion bid for Sky  SKYB.L ,
trumping an offer from Rupert Murdoch's 21st Century Fox
 FOXA.O  16 hours earlier and setting up a transatlantic battle
for the European pay-TV group.*:nL8N1U81DI
    Markets were rattled on Wednesday after the United States
threatened to impose tariffs on an additional $200 billion worth
of Chinese goods. China said Thursday the two countries have not
been in touch about restarting negotiations and while it does
not want a trade war, it would fight if necessary.*:nS6N1TR00S
    "While markets have typically reacted negatively to any
escalation on trade, the overall impact has been relatively
modest under the circumstances, which suggests investors are far
from panic mode right now," Craig Erlam, senior market analyst
at online forex broker Oanda, said in a note.
    The drop on Wall Street on Wednesday was not as steep as in
late March and early April when the S&P 500 tumbled more than 2
percent on four occasions as trade rhetoric escalated.
    Boeing  BA.N  and Caterpillar  CAT.N , among the Dow's
biggest drags on Wednesday and among the hardest hit by the
recent trade dispute, were up about 1 percent.
    Also helping sentiment was crude oil prices recouping some
ground following sharp losses in the previous session.  O/R 
    At 7:40 a.m. ET, Dow e-minis  1YMc1  were up 186 points, or
0.75 percent. S&P 500 e-minis  ESc1  were up 14.75 points, or
0.53 percent and Nasdaq 100 e-minis  NQc1  were up 37 points, or
0.51 percent.
    Delta Air Lines  DAL.N  rose 1.5 percent after the company's
quarterly profit fell less than expected. Delta though slashed
its full-year earnings forecast as fuel costs surged.*:nL4N1U845D
    Overall, S&P 500 companies are expected to post
second-quarter profit growth of around 21 percent, according to
Thomson Reuters I/B/E/S.
    The earnings season kicks off in earnest on Friday, when big
Wall Street banks JPMorgan Chase  JPM.N , Wells Fargo  WFC.N 
and Citigroup  C.N  report results.
    On the macro front, a Labor Department report at 8:30 a.m.
ET is expected to show the Consumer Price Index rose 0.2 percent
in June, similar to its May reading. Jobless claims is expected
to have slipped to a seasonally adjusted 225,000 last week, from
231,000 a week before.

 (Reporting by Amy Caren Daniel in Bengaluru; Editing by Shounak
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