US STOCKS-Futures inch up, indicating rebound; earnings awaited

By Ryan Vlastelica

NEW YORK, Oct 23 (Reuters) - U.S. stock index futures were higher on Thursday, implying a rebound from the previous session as investors used the drop to add to positions and looked ahead to the release of some key corporate reports for further incentives.

* Major indexes traded higher for much of Wednesday's session but turned lower in afternoon trading, pressured in part by a shooting at the Canadian parliament.

* AT&T Inc (Sao Paolo: ATTB34.SA - news) fell 1.4 percent to $34 in premarket trading, a day after the telecom giant reported weaker-than-expected revenue growth and cut its full-year forecast for consolidated revenue growth.

* The Dow component's results followed similarly disappointing ones from Boeing Co (NYSE: BA - news) and Biogen on Wednesday, though this earnings season has largely been positive for markets. With 27 percent of the S&P 500 having reported, 68.9 percent have exceeded profit expectations, above the long-term average of 63 percent, according to Thomson Reuters data.

* Among the companies reporting Thursday, Dow components 3M Co and Caterpillar Inc (NYSE: CAT - news) will be of particular interest, with investors looking for any impact on earnings from a robust U.S. dollar.

* Multinational stocks have been hurt by the strong dollar this season. According to RBC Capital Markets, "domestically-oriented companies are on track to grow earnings by 9.1 percent vs. 1.5 percent for more global names and are beating by a greater percentage."

* On the data front, weekly jobless claims due at 8:30 a.m. (1230 GMT) are seen rising to 282,000 from last week's 264,000. The preliminary read on October manufacturing from financial data firm Markit (NasdaqGS: MRKT - news) at 9:45 a.m. is seen dipping to 57 from 57.5.

* With Wednesday's decline, the S&P fell back under its 150-day moving average, a sign that trading trends have not turned fully positive, though the index has not undergone a correction - defined as a 10 percent decline from a peak - since 2012, as investors have used market declines as buying opportunities.

* The benchmark index moved 22.48 points between its high and low on Wednesday, above the 250-day average move of 15.64 points. In an indication of the market's recent volatility, the S&P hasn't had a day with a below-average move since Sept. 23.

Futures snapshot at 7:03 a.m.:

* S&P 500 e-minis were up 5.75 points, or 0.3 percent, with 194,052 contracts changing hands.

* Nasdaq 100 e-minis were up 12.25 points, or 0.31 percent, in volume of 30,848 contracts.

* Dow e-minis were up 39 points, or 0.24 percent, with 32,439 contracts changing hands. (Editing by Bernadette Baum)