U.S. equity futures Stock Up on speculation ECB action to stem the debt crisis

U.S. Stock index futures rose, indicating the Standard & Poor's 500 also can add to their biggest gain in three months amid speculation European policy makers will announce measures to contain the crisis in the region of the debt.

Verizon Communications Inc. and Caterpillar Inc. helped lead gains in Dow Jones Industrial Average companies in early trading. Toll Brothers Inc. rose 3.5 percent after the U.S. largest builder of luxury home a fourth-quarter profit. Limited Brands Inc., which owns the Victoria's Secret chain, gained 3.2 percent after reporting sales that beat estimates.

S & P 500 expiring in December rose 0.5 percent to 1,210 at 8:05 am in New York after the index rallied 2.2 percent yesterday. Dow Jones futures Industrial Average gained 45 points, or 0.4 percent, to 11,278 today and the future of the Nasdaq-100 Index advanced 0.6 percent to 2,171.75.

"We are picking up strength," said Tom Wirth, chief investment officer at Chemung Canal Trust senior Co., which manages $ 1.5 billion in Elmira, New York. "The more clearly we have with the European debt situation, the more we see investors willing to focus on what is happening in the U.S. Almost all the data points you see here is telling us there is no double dip . Investors are recognizing they need to put money to work in the stock market. "

Since reaching a maximum of two years on November 5, the S & P 500 lost 1.6 percent. The index is still up 18 percent this year low in July as companies reported earnings higher than estimated and the Federal Reserve increased its asset purchase program to stimulate growth.

ECB

Responsible for the European Central Bank policy meeting in Frankfurt today kept the benchmark interest rate at a record low of 1 percent. The bank may also delay their departure from the emergency liquidity measures such as debt crisis threatens to engulf Portugal and Spain, the fourth largest economy in Europe. ECB President Jean-Claude Trichet, will hold a press conference this morning.

A Labor Department report today may show initial claims for U.S. unemployment benefits rose last week from a minimum of two years, according to the median estimate in a survey of economists. Nov. nonfarm payrolls report is scheduled to leave tomorrow and will show employment increased by 145,000 workers this month after an increase of 151,000 in October.

Separate figures today may show fewer Americans signed contracts to buy existing homes in October for the second consecutive month, adding to evidence of a housing recovery takes time to develop, economists said.

Verizon gained 1.1 percent to $ 32.70, while Caterpillar rose 0.4 percent to $ 87.84.

Toll Brothers rose 3.5 percent to $ 19.10. The company reported fourth-quarter profit of $ 50.5 million, or 30 cents per share, tax credit and lower depreciation for the land lost value. Analysts had forecast a loss.

Limited Brands rose 3.2 percent to $ 35.75 after reporting a 10 percent gain in comparable store sales, surpassing the estimate of an increase of 4 percent.