US STOCKS-Futures higher after sell-off, ADP report awaited

                                

                                
 * Energy in focus as oil nears $100/barrel
                                
 * Buffett forecasts decline in unemployment rate: CNBC
                                
 * ADP on tap, expected to show 175,000 jobs added
                                
 * Futures up: Dow 12 pts, S&P 2.1 pts, Nasdaq 4.5 pts
                                
 * For up-to-the-minute market news see [STXNEWS/US]
  (Adds quote, updates prices)
                                
 By Ryan Vlastelica
                                
 NEW YORK, March 2 (Reuters) - U.S. stock index futures were
slightly higher on Wednesday, stabilizing a day after a surge
in oil prices led to a heavy sell-off.
                                
 Energy remained in focus as tensions ratcheted up in Libya.
A civilian uprising continued, and two U.S. amphibious assault
ships entered Egypt's Suez Canal on their way to the
Mediterranean. For details, see [nTOPMEAST] and [nLDE71O2CH]
                                
 Crude oil futures <CLc1> was little changed but near the
psychologically key $100 a barrel. Investors are concerned
rising energy costs could slow economic activity.
                                
 "A lot of discretionary spending is psychologically driven,
and sustained $100 oil seems to be the number that could cause
consumers to pull back," said Kim Caughey Forrest, senior
equity research analyst at Fort Pitt Capital Group in
Pittsburg. "If they pull back too much, that could be enough to
make this weak economic recovery stop."
                                
 In an interview with CNBC television, Berkshire Hathaway
Inc <BRKa.N> chairman Warren Buffett said oil disruptions were
a rational concern. He also forecast a decline in the
unemployment rate through the 2012 elections. [ID:nN02187860]
                                
 The ADP employment report will be released at 8:15 a.m. EST
(1315 GMT) and is expected to show 175,000 were added by
private employers in February, compared with 187,000 the month
before.
                                
 "ADP hasn't been a good predictor of monthly payrolls,"
said Caughey Forrest, referring to the February jobs report due
Friday. "But if it comes in below consensus that will still
dampen everyone's spirits."
                                
 S&P 500 futures <SPc1> rose 2.1 points but were slightly
under 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>
added 12 points, and Nasdaq 100 futures <NDc1> were up 4.5
points.
                                
 Investors will watch Apple Inc <AAPL.O> shares as the
technology giant prepares to unveil the second version of its
popular iPad tablet computer, though the longer-term share
reaction to the new product may be less robust. The stock edged
0.4 percent higher to $350.73 in premarket trading.
[ID:nN25168779]
                                
 Costco Wholesale Corp <COST.O> reported second-quarter
earnings and revenue that rose from the prior year, while
Staples Inc <SPLS.O> posted fourth-quarter profit that missed
expectations by a penny. [ID:nLDE7210GX] and [ID:nN02190496]
                                
 PPL Corp <PPL.N> agreed to buy German utility E.ON AG's
<EONGn.DE> UK power networks for $5.6 billion. [ID:nN01119969]
                                
 Concerns about rising oil prices prompted investors on
Tuesday to sell stocks and hedge against further declines. The
CBOE Volatility Index VIX <.VIX>, Wall Street's so-called fear
gauge, jumped 14.5 percent on the uncertainty.
  (Editing by Jeffrey Benkoe)