US STOCKS-Futures higher after 5-day slide; ADP on tap

* ADP employment, Fed minutes on tap

* J.C. Penney climbs in premarket after sales results

* Futures up: Dow 94 pts, S&P 12 pts, Nasdaq 22.5 pts

By Chuck Mikolajczak

NEW YORK, Jan 7 (Reuters) – Dow Futures rose on Wednesday, putting Wall Street on track to bounce from a five-day slide, ahead of data on the labor market and the minutes from the most recent meeting of the U.S. Federal Reserve.

* The S&P 500 slumped for a fifth straight session on Tuesday for its longest losing streak in 13 months as oil prices slumped further and data showed slower growth in the U.S. services sector in December.

* The benchmark S&P index has fallen 4.2 percent over the past five days, as oil prices continue to decline and worries about an election in Greece in about three weeks which may trigger its exit from the euro zone.

* Payrolls processor ADP is scheduled to release its report on private job growth at 8:15 a.m. (1315 GMT). Expectations call for 226,000 jobs to be added versus the 208,000 in the prior month.

* Investors will scan the minutes from the Federal Open Market Committee’s Dec. 16-17 meeting at 2:00 p.m. (1900 GMT) for clues on the timing of an interest rate hike. The central bank said it would take a “patient” approach in deciding when to bump borrowing costs higher at the meeting.

* Brent crude was off 0.7 percent but managed to recover slightly after falling below $ 50 a barrel for the first time since May 2009, and was last at $ 50.72. U.S. crude was last down 0.2 percent at $ 47.84 a barrel.

* J.C. Penney shares surged 18.6 percent to $ 7.78 in premarket trade after the department store operator said same-store sales rose 3.7 percent in November and December.

* Micron Technology shed 3.3 percent to $ 31.80 before the opening bell after the memory chipmaker gave a quarterly revenue forecast on Tuesday that missed Wall Street’s expectations.

Futures snapshot at 7:31 a.m. EST (1231 GMT):

* S&P 500 e-minis were up 12 points, or 0.6 percent, with 169,296 contracts changing hands.

* Nasdaq 100 e-minis were up 22.5 points, or 0.55 percent, in volume of 29,366 contracts.

* Dow e-minis were up 94 points, or 0.54 percent, with 30,202 contracts changing hands.

(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)

Dow Futures

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