* Retail sales, Empire State survey on tap
* Fed chairman Bernanke due to speak
* Futures higher: Dow 65 pts, S&P 9.6, Nasdaq 11
* For up-to-the-minute market news, click []
(Updates with mining stocks, Lowe's results)
By Edward Krudy
NEW YORK, Nov 16 (Reuters) - U.S. stock index futures
gained on Monday, taking a cue from rising global markets, as a
weaker dollar lifted commodity prices in a boost to natural
resource stocks and investors looked ahead to economic data and
a speech by the Federal Reserve chairman.
October retail sales numbers could offer clues about
consumer spending ahead of the holiday season, while the New
York Federal Reserve's Empire State manufacturing survey will
provide an early gauge of economic activity in November. Both
surveys are due at 8:30 a.m. EST (GMT 1330)
Fed Chairman Ben Bernanke will speak on economic conditions
in an address to the Economic Club of New York at 12:15 p.m.
EST (1715 GMT). Investors are keen for signs when the Fed will
remove stimulus measures from the economy and how long interest
rates will remain near zero percent.
"You've got oil trading up 1.5 percent, the energy complex
up, the metals complex up, (agricultural) commodities looking
higher, all of this on the heals of a dollar that's giving up
some of its luster," said Arthur Hogan, chief market analyst at
Jefferies & Co in New York.
Mining shares rose in premarket trade along with commodity
prices. Freeport McMoRan Copper & Gold Inc <FCX.N> rose 2.2
percent to 83.35, while Newmont Mining Corp <NEM.N> gained 2.3
percent to $52.10.
S&P 500 futures <SPc1> gained 9.6 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> rose 65
points, and Nasdaq 100 futures <NDc1> added 11 points.
U.S. network equipment maker Cisco Systems Inc <CSCO.O>
raised its bid for Tandberg ASA <TAA.OL>, the Norwegian video
conferencing equipment maker. Cisco's shares fell 0.2 percent
to $23.67 in premarket trade. For details, see []
Lowe's Cos Inc <LOW.N> lost 1.5 percent to $21.53 premarket
after the second-largest U.S. home improvement chain posted a
30 percent decline in quarterly profit and forecast that
same-store sales would slide by 2 percent to 6 percent in the
current quarter. []
Meanwhile, Goldman Sachs raised Nordstrom Inc <JWN.N> to
"buy," but cut JC Penney Co Inc <JCP.N> to "sell." JC Penney's
shares fell 0.5 percent in light premarket trade.
[]
The dollar fell 0.5 percent against a basket of currencies,
while oil futures rose 1.2 percent to above $77 a barrel,
clawing back most of last week's losses, and gold <XAU=>
touched a fresh high above $1,130 an ounce in Europe.
Chinese stocks jumped 2.7 percent, while Japan's Nikkei
average <> rose 0.2 percent, and European shares <>
were up 1.1 percent, flirting with a 13-month high, driven
higher by commodities-related shares.
(Reporting by Edward Krudy; editing by Jeffrey Benkoe)
