US STOCKS-Futures bounce back with eyes on China, Morgan Stanley

* Hasbro (NasdaqGS: HAS - news) reports surprise revenue rise, shares jump

* Futures up: Dow 77 pts, S&P 8 pts, Nasdaq 11 pts

By Rodrigo Campos

NEW YORK, April 20 (Reuters) - U.S. stock index futures rose on Monday, following a sharp decline in the previous session, as Chinese steps to stimulate its slowing economy and earnings including those from Morgan Stanley (Xetra: 885836 - news) lured money back into equities.

* In the second industry-wide cut in two months, China's central bank on Sunday cut the amount of cash that banks must hold as reserves in a move to help spur bank lending and combat slowing growth.

* Morgan Stanley shares rose 2.6 percent in premarket trading after the Wall Street investment bank reported a 60 percent rise in quarterly profit and raised its dividend by 50 percent to 15 cents per share.

* Hasbro jumped 8.5 percent after the toymaker reported a surprise increase in quarterly revenue, helped by strong growth in toys based on characters in Transformers movies and Marvel Comics.

* IBM (NYSE: IBM - news) is due to report results after the closing bell.

* Despite lackluster U.S. economic data, a world grappling with slow growth and concern that Greece and Ukraine could default on their debt, the U.S. stock market has been more than resilient. Even (Taiwan OTC: 6436.TWO - news) after Friday's selloff, major indices are less than two percent from all-time highs and volatility measurements have been close to their lowest levels for 2015.

Futures snapshot at 7:35:

* S&P 500 e-minis were up 8 points, or 0.39 percent, with 153,943 contracts changing hands.

* Nasdaq 100 e-minis were up 11.25 points, or 0.26 percent, in volume of 24,878 contracts.

* Dow e-minis were up 77 points, or 0.43 percent, with 24,862 contracts changing hands. (Reporting by Rodrigo Campos; Editing by Chizu Nomiyama)