* G20 leaders soften banks' deadlines on new capital rules
* May personal consumption, income data on tap
* Futures up: S&P 1.5 pts, Dow 11 pts, Nasdaq 4.5 pts
* For up-to-the-minute market news see []
(Adds quote, updates prices)
By Angela Moon
NEW YORK, June 28 (Reuters) - U.S. stock index futures
edged higher on Monday after global leaders pledged to tackle
government deficits and investors looked ahead to earnings and
economic data for a rebound after Wall Street's steep decline
last week.
At the Group of 20 summit in Toronto over the weekend,
leaders agreed to take divergent paths on ways to trim budget
deficits while ensuring the global economic recovery remains
intact, a reversal from the unity of past crisis-era summits.
They also softened a 2012 deadline for banks to build up
higher levels of capital and liquidity. For details, see
[]
"After ending the week lower, investors are expecting a
recovery as we are entering a strong earnings season and a week
of important economic data," said Peter Cardillo, chief market
economics tat Avalon Partners in New York.
"The headlines read well from the G20, and it is certainly
a step in the right direction but it is basically a good will
event, and we are not going to see a major impact (on
stocks)."
The day's economic data includes May personal income and
consumption data at 8:30 a.m. EDT []. Economists in a
Reuters survey forecast personal income up 0.5 percent,
compared with 0.4 percent previously. The key monthly jobs
report is due out Friday.
S&P 500 futures <SPc1> added 1.5 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 11
points, and Nasdaq 100 futures <NDc1> were up 4.5 points.
Last week, major stock indexes recorded their weakest
performance in five weeks. The Dow index <> fell 2.9
percent, the S&P 500 was off 3.6 percent, and the Nasdaq
Composite fell 3.7 percent.
U.S. President Barack Obama's efforts to win final approval
for a financial regulatory reform bill looked more complicated
over the weekend after a Republican senator threatened to
oppose it. []
Russian President Dmitry Medvedev called for a special levy
on oil companies to finance a fund to help clean up
environmental disasters such as BP Plc's <BP.L><BP.N> oil spill
in the Gulf of Mexico. []
Financial woes may force a state-owned Dubai firm to
renegotiate about 220 aircraft orders with Boeing Co <BA.N> and
Airbus <EAD.PA>, a French newspaper reported. []
Separately, Air China <601111.SS><0753.HK> said late Friday it
will buy 20 Boeing 777-800 airliners for $1.4 billion.
Miners will be in the spotlight after the Australian
government's hopes of defusing a dispute over a planned mining
tax hit a snag when one political party vowed to block any
attempt to seriously water down the tax.
European stocks rose about 1 percent Monday morning, led by
the banking sector, after the G20 summit's decision on bank
rules for capital and liquidity.
(Reporting by Angela Moon; editing by Jeffrey Benkoe)
