US STOCKS-Futures rise on earnings, ahead of Fed

                                
 * Fed policy statement, Bernanke news briefing on tap
                                
 * Whirlpool beats expectations
                                
 * Futures up: Dow 42 pts, S&P 4.4 pts, Nasdaq 15.25 pts
                                
 * For up-to-the-minute market news see STXNEWS/US
                                
 (Updates market activity)
                                
 By Edward Krudy
                                
 NEW YORK, April 27 (Reuters) - Forecast-beating results
from big U.S. corporations and expectations of more of the same
easy money policies from the Federal Reserve lifted index
futures on Wednesday, with stocks set to run higher after the
S&P 500 moved above a technical resistance level.
                                
 Fed Chairman Ben Bernanke will likely use his first-ever
news conference on monetary policy to hammer home the case for
a patient approach to withdrawing the central bank's extensive
support for the U.S. economy and point to low interest rates in
the near future. For details see [ID:nN26291565]
                                
 Oliver Pursche, president at Gary Goldberg Financial
Services in Suffern, New York, said investors were coming to
the view that the Fed would maintain ultra low interest rates
at least until the end of the year and probably beyond.
                                
 "Equities continue to be very attractive on a relative
basis," he said. "At the end of the day we do not expect
interest rate policy to change."
                                
 Whirlpool Corp <WHR.N> continued the parade of forecast
beating companies. The world's largest appliance maker trumped
quarterly profit and sales estimates on cost controls and
improving sales in most markets. The shares rose 3.2 percent to
$90.70. [ID:nN27109840]
                                
 S&P 500 futures <SPc1> added 4.4 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> gained 42
points and Nasdaq 100 futures <NDc1> rose 15.25 points.
                                
 In Tuesday's session, strong earnings lifted Wall Street to
its highest level since crashing to a bear market low more than
two years ago. The S&P 500 broke through a level where it had
faced significant resistance.
                                
 The Federal Open Market Committee will release a statement
on interest rate policy at 12:30 p.m. (1630 GMT). In a Reuters
poll, dealers expect the fed funds rate will remain in the 0.0
percent to 0.25 percent range. Federal Reserve Chairman Ben
Bernanke will hold media briefing at 2:15 p.m. (1815 GMT).
                                
 The dollar fell broadly on Wednesday and looked set to
remain pressed due to expectations the Federal Reserve will
stick with its ultra-loose monetary policy and point to
continued low interest rates.
                                
 Johnson & Johnson <JNJ.N> is to buy Swiss medical devices
maker Synthes Inc <SYST.VX> for 19 billion Swiss francs ($21.59
billion) in its largest ever buy, boosting its surgical
business and reshaping the wider industry. J&J shares 1.5
percent to $63.95 premarket. [ID:nL3E7FR0K9]
                                
 Federal Reserve Bank of Chicago releases at 8:30 a.m. (1230
GMT) its Chicago Fed Midwest Manufacturing Index for March. The
index was 83.3 in the prior month.
                                
 Tokyo stocks <.N225> gained 1.4 percent after a batch of
Japanese and U.S. corporate earnings came in better than
expected. The FTSEurofirst 300 <.FTEU3> index of top European
shares rose 0.5 percent.
                                
 (Editing by Kenneth Barry)