US STOCKS-Futures rise as euro resumes climb

                                
   * Fitch cuts BP's credit rating to 'BBB' from 'AA'
                                
 * Euro inches up despite Greece downgrade
                                
 * Futures up: Dow 54 pts; S&P 5 pts; Nasdaq 11 pts
                                
 * For up-to-the-minute market news see [STXNEWS/US]
  (Updates prices, adds byline)
                                
 By Rodrigo Campos
                                
 NEW YORK, June 15 (Reuters) - U.S. stock index futures rose
on Tuesday along with the euro as strong demand at debt
auctions eased concerns about euro zone fiscal problems.
                                
 The common currency has been the yardstick used by equity
investors lately to gauge risk appetite.
                                
 "The stability in the euro is allowing markets to continue
this slow grind ahead," said Art Hogan, chief market analyst at
Jefferies & Co.
                                
 S&P 500 futures <SPc2> rose 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 <DJc2> gained 54
points, and Nasdaq 100 futures <NDc2> added 11.25 points.
                                
 S&P 500 futures face psychological and technical hurdles
ahead, with the 1,100 level and the 200-day simple moving
average at around 1,102.
                                
 Spain and Belgium sold government debt and Ireland issued
bonds in auctions that soothed investors worried about the euro
zone's debt crisis.
                                
 European shares traded slightly higher led by banks as
investors brushed aside a downgrade of Greece's credit rating
by Moody's.
                                
 BP Plc's <BP.L><BP.N> ADRs were up 2.7 percent to $31.49 in
premarket trading. Its U.S. chief faces grilling in Congress on
Tuesday that will include accusations it caused the worst oil
spill in U.S. history with a calculated strategy to cut costs.
Fitch downgraded BP's credit rating to 'BBB' from 'AA', citing
near-term payment risks.
                                
 Lamar McKay, the head of BP America, will be joined at the
hearings by executives from Exxon Mobil Corp <XOM.N>, Chevron
Corp <CVX.N>, ConocoPhillips <COP.N> and Royal Dutch Shell
<RDSa.L> who try to stave off an industry drubbing. For
details, see [ID:nN14163920]
                                
 On the macroeconomic front, the New York Federal Reserve
releases its Empire State Manufacturing Survey for June at 8:30
a.m. EDT (1230 GMT), while the National Association of Home
Builders (NAHB) issues its June housing market index at 10 a.m.
(1400 GMT).
                                
 For the Empire survey, economists expect a reading of 20
following May's 19.11, while for the NAHB index, a reading of
21 is expected, slightly lower than the previous month's 22.
                                
 Best Buy Co <BBY.N> shares dropped 7.4 percent to $38.02
premarket after it reported quarterly results. [ID:nASA00GBF]
                                
 News Corp <NWSA.O> will be in the spotlight after BSkyB
<BSY.L> rejected its proposal to buy the rest of the company
News Corp doesn't already own in a deal that valued BSkyB at
about $19 billion. [ID:nLDE65E0B8]
                                
 Hershey Co <HSY.N> plans to cut 500 to 600 jobs, or up to 5
percent of its workforce, in a restructuring aimed at saving
some $60 million to $80 million annually.
                                
 U.S. stocks ended little changed in a low-volume session
Monday after the Greek downgrade curbed risk appetite.
  (Reporting by Rodrigo Campos; editing by Jeffrey Benkoe)