NEW YORK, April 8 (Reuters) - U.S. stock index futures rose
on Monday, bouncing back from the worst weekly decline this year
even as investors face the prospect of a lackluster corporate
* Earnings forecasts have been scaled back heading into
first-quarter reports. S&P 500 earnings are expected to have
risen just 1.6 percent from a year ago, according to Thomson
Reuters data, down from a 4.3 percent forecast in January.
* JPMorgan Chase and Bed Bath and Beyond
are among the major companies set to announce results later in
the week, while Alcoa's earnings will be the first from a
Dow component after Monday's closing bell.
* Worries on Friday about the pace of earnings growth was a
factor in Wall Street racking up its worst week this year so
far, while a weaker-than-expected jobs report prompted concern
the U.S. economy is headed for a slow patch.
* S&P 500 futures rose 5.2 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 gained 18
points, and Nasdaq 100 futures added 6 points.
* General Electric Co said it will buy oilfield
services provider Lufkin Industries Inc for about $3.3
billion, sending Lufkin shares up more than 37 percent in
* Investors will be keeping an eye on the latest
developments out of the euro zone after a constitutional court
in Portugal overturned key austerity measures in the
government's latest budget. Portugal's prime minister said the
government will cut spending to meet targets agreed with its
* Federal Reserve Chairman Ben Bernanke will give a speech
later on Monday after markets are closed. Investors have been
watching for any insight into the Fed's thinking on how long the
central bank will keep its asset purchase program in place as it
tries to boost the economic recovery.