* U.S. dollar falls to 14-month low
* Verizon shares rise after quarterly results
* Futures up: S&P 1.50 pts, Dow 13 pts, Nasdaq 1.25 pts
* For up-to-the-minute market news, click []
(Adds details, quote, byline)
By Leah Schnurr
NEW YORK, Oct 26 (Reuters) - U.S. stock index futures
indicated a modestly higher open on Monday, after a sell-off in
the previous session, as investors looked to a busy week of
economic data, while the U.S. dollar fell to a 14-month low.
Verizon Communications Inc <VZ.N> gained 1.7 percent to
$29.35 before the opening bell after it reported third-quarter
results. For details, see []
Corning Inc <GLW.N> also rose in premarket trade after the
specialty glass maker reported better-than-expected profit and
forecast the market for glass for flat-screen televisions to
grow by 15 percent next year. Corning was up 1.7 percent at
$15.91. []
Investors will take in the Dallas Federal Reserve survey
for October later in the morning, but the highlight of the week
will likely be on Thursday, when GDP data may show the U.S.
economy returned to growth. Analysts expect the report to show
the economy grew by 3.3 percent in the third quarter, according
to a Reuters survey.
While the current earnings season has largely been
better-than-expected, and there is still a slew of reports to
come, the good news has been priced into the market, said Peter
Cardillo, chief market economist at Avalon Partners in New
York.
"The story of the earnings season is fading, and most
people will now be looking at the economic data and the trend
of the U.S. currency," said Cardillo.
"All in all, this market is headed into a consolidation
phase as we get into the full swing of economic numbers this
week."
The dollar fell to a 14-month low against the euro on
Monday after a Chinese report saying Beijing should increase
its holdings of euros and yen in its foreign reserves led
investors to sell the greenback. For details, see
[]
U.S. equities and the dollar have moved in the opposite
direction as of late as the weak dollar helps multinationals
with overseas sales. It also signals improving appetite for
risk.
S&P 500 futures <SPc1> rose 1.50 of a point 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 13
points, while Nasdaq futures <NDc1> added 1.25 points.
U.S. stocks fell on Friday, with the major indexes slipping
for the first week in three, as industrial companies' weak
results overshadowed robust earnings from tech and retail
heavy-weights.
The blue-chip Dow average <> finished below 10,000, but
is still up 54 percent from the March low as investors grow
more confident that the economy will recover, and as corporate
earnings beat expectations. []
(Editing by Padraic Cassidy)
