U.S. stock-index futures rose as oil retreated from a 29-month high, easing concern higher energy costs will hurt consumption and corporate earnings. Boeing Co. (BA) advanced in European trading after winning its first 747-8 order in more than a year. Urban Outfitters Inc. (URBN) plunged 12 percent after the retailer reported earnings that missed estimates. Futures on the Standard & Poor’s 500 Index expiring in March climbed 0.3 percent to 1,313.3 at 6:53 a.m. in New York. Dow Jones Industrial Average futures rose 0.2 percent to 12,105, while Nasdaq-100 Index futures added 0.1 percent to 2,327.75. The S&P 500 slid 0.8 percent yesterday, erasing last week’s advance, as oil gained and chipmakers tumbled after Wells Fargo & Co. reduced its recommendation on the industry. The gauge has still rallied 4.2 percent this year as companies reported earnings that topped analysts’ estimates and the Federal Reserve kept interest rates at a record low. “We expect 2011 will be a broadly positive equity return environment, bolstered by still expansionary monetary policies and still accelerating economic growth,” a team of strategists at Macquarie Bank led by David Rickards in Hong Kong wrote in a report today. “Valuations are not challenging.” Oil Slides Oil fell for the first time in three days in New York as speculation that fighting may subside in Libya eased concern supply cuts will spread through the Middle East. Crude for April delivery slipped 0.2 percent to $105.26 a barrel in electronic trading on the New York Mercantile Exchange. The contracts have still surged more than 20 percent since mid-February. Boeing climbed 0.8 percent to $71.48 in European composite trading. The planemaker won 43 orders for widebody planes from Chinese carriers, including its first 747-8 deal in more than a year, as economic growth spurs travel in the world’s most- populous nation. Hong Kong Airlines agreed to buy 32 787s and six 777 freighters, Chicago-based Boeing said. Air China Ltd., the world’s biggest carrier by market value, said separately that it will order five 747-8s. Both deals were signed at the Hong Kong air show. Urban Outfitters fell 12 percent to $33.29 in Germany from $37.99 yesterday in New York. The Philadelphia-based clothing chain operator had fourth-quarter earnings of 45 cents a share excluding some items, falling short of the average analyst projection in a Bloomberg survey. Broadsoft Inc. may be active. The maker of telecommunications software said first-quarter earnings may be as much as 11 cents a share, compared with the average analyst estimate for 9 cents. Revenue will be at least $27 million, also exceeding the projections. The shares didn’t trade in Europe. To contact the reporter on this story: Alexis Xydias in London at axydias@bloomberg.net. To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net.

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