US STOCKS-Futures edge up as S&P chart flashes bullish sign

                                

                                
 * Euro gains against dollar as G20 discussions underway
                                
 * SanDisk shares jump a day after earnings
                                
 * Futures: Dow off 9 pts, S&P up 2.7 pts; Nasdaq up 8.5
                                
 * For up-to-the-minute market news see [STXNEWS/US]
                                
 By Rodrigo Campos
                                
 NEW YORK, Oct 22 (Reuters) - U.S. stock index futures
ticked higher on Friday as a Group of 20 nations meeting that
sought a common path to manage global currency, trade and
macroeconomic imbalances kept investors skittish and markets
choppy.
                                
 S&P 500 futures sent a bullish signal as the index's 50-day
moving average crossed above its 200-day moving average, a
technical event known as a golden cross. That upward momentum
indicator last occurred in June 2009, and futures rose about 35
percent in the following 10 months.
                                
 "The center of attraction is the G20," said Peter Cardillo,
chief market economist at Avalon Partners in New York.
                                
 "There seems to be division among the group. A lot of this
is already in the marketplace, but I suspect a repeat of
yesterday in terms of a choppy market," he said.
                                
 S&P 500 futures <SPc1> rose 3 points and ticked 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> dropped 9
points, and Nasdaq 100 futures <NDc1> added 8.5 points.
                                
 Boosting Nasdaq futures, SanDisk Corp <SNDK.O> gained
nearly 5 percent in premarket trading a day after the flash
memory maker beat profit and margin estimates, and forecast a
2011 surge in demand as more consumers opt for smartphones and
tablets. For details see [ID:nN2194011]
                                
 The U.S. dollar dipped against a basket of currencies
<.DXY> on wariness over whether any clear deal would be reached
at the G20 rich and emerging nations meeting in South Korea,
where the United States urged members to avoid using their
currencies for economic advantage. For details, see
[ID:nTOE69L00U]
                                
 Schlumberger Ltd <SLB.N>, the world's largest oilfield
services provider, reported a jump in quarterly profit and its
shares edged up 1 percent in light premarket trading.
                                
 Diversified U.S. manufacturer Honeywell International Inc
<HON.N> reported quarterly earnings that topped expectations
and raised its profit forecast, and its shares ticked 1 percent
higher in light trade. [ID:nN22129395]
                                
 Verizon Communications Inc <VZ.N> dipped 0.2 percent after
posting results.
                                
 AIA, the Asian life insurance arm of American International
Group Inc <AIG.N>, is set to raise $17.9 billion after pricing
its Hong Kong initial public offering at the top of its
expected range. [ID:nTOE69K099]
                                
 Two top U.S. Federal Reserve officials gave competing views
on the need for more stimulus for the economy, continuing a
public debate over further easing, even though the Fed's core
view appears to favor such a move. [ID:nN21128261]
                                
 Growing speculation in recent weeks that the Fed will
extend the quantitative easing measures at its next meeting in
November has pressured the dollar while boosting equities, but
uncertainty over the extent of the stimulus has caused some
market volatility.
                                
 Wall Street edged higher in a choppy session on Thursday,
buoyed by robust earnings, but a firmer U.S. dollar limited
gains.
 (Editing by Padraic Cassidy)