US STOCKS-Futures up as stimulus worry fades; Japan data upbeat

Fri Jun 28, 2013 8:17am EDT
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* Blackberry slumps after results

* Molycorp climbs after SEC investigation

* Accenture tumbles after earnings, outlook

* Futures up: Dow 33 pts, S&P 4.5 pts, Nasdaq 7.25 pts

By Chuck Mikolajczak

NEW YORK, June 28 (Reuters) - U.S. stock index futures advanced on Friday, putting the S&P on track for its first four-day gain since early April, as concerns eased over a premature pullback of central bank stimulus measures and following upbeat economic data from Japan.

The S&P 500 has risen 2.6 percent over the past three sessions as economic data and comments from U.S. Federal Reserve officials soothed worries over an earlier-than-expected reining in of stimulative bond purchases by the Fed.

The benchmark S&P index had slumped as much as 4.8 percent in the days following a June 19 statement from the U.S. Federal Reserve, when Chairman Ben Bernanke said the Fed could start slowing its stimulative bond purchases later this year if growth was strong enough.

"When you have dramatic selloffs like we had, so quickly and so far, that just doesn't happen in the U.S. equity markets without some sort of bounce back," said Keith Bliss, senior vice president at Cuttone & Co in New York.   Continued...