Futures point higher on profit views

NEW YORK (Reuters) - Stock futures jumped on Tuesday, pointing to a rebound after four straight sessions of losses, as higher-than-expected profit at Wal-Mart Stores Inc lifted sentiment.
Oil prices below $94 a barrel added to the positive tone.
Shares of Wal-Mart, the world's biggest retailer, rose 3.3 percent to $44.77 before the opening bell after it said the 8 percent rise in third-quarter earnings came on stronger sales abroad, tighter cost controls and efforts to lure customers into stores earlier than ever for holiday shopping.
"I kind of think the market is going to encounter a technical rebound today... We had solid corporate news already," said Peter Cardillo, chief market economist at Avalon Partners.
However, home improvement retailer Home Depot Inc reported results that missed expectations and forecast a steeper fall on full-year earnings.
S&P 500 futures rose 13.80 points and were well above fair value, a formula to evaluate pricing taking into account interest rates, dividends and time to expiration on the contract.
Dow Jones industrial average futures rose 98 points, and Nasdaq 100 futures gained 21.50 points.
U.S. stocks fell for a fourth session on Monday, led by a widening sell-off in technology stocks late in the day on worries about business spending, while a drop in oil prices hit energy producers' shares.
News Corp Chairman Rupert Murdoch said the company had made a strong start to this quarter, with the global credit-market squeeze so far not having much affect on forward advertising.
On the economic agenda, the National Association of Realtors is scheduled to issue its Pending Home Sales Index for September at 3 p.m.
Economists in a Reuters survey forecast a 2.8 percent drop versus a 6.5 percent fall in the August release.
On Monday, the Dow fell 0.4 percent to 12,987.55 points -- its first finish below 13,000 since early August.
The Standard & Poor's 500 Index fell 14.52 points, or 1.00 percent, to finish at 1,439.18. Monday's loss marked the S&P's longest losing streak in nine months. The Nasdaq Composite Index tumbled 43.81 points, or 1.67 percent, to 2,584.13.

<------- Guess most people can sleep better tonight, finally..