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By Jennifer Coogan
NEW YORK (Reuters) - Stock index futures rose on Thursday, with technology shares set to gain after Blackberry maker Research in Motion Ltd lifted its subscriber outlook and Cisco Systems received a brokerage upgrade.
Energy, mining and materials are also poised to rise as gold trades near a record high and crude oil hovers near the $100 mark.
Citigroup lifted its rating on Cisco, the top maker of routers, switches and other equipment. Research in Motion also reconfirmed its revenue and earnings outlook.
"The Nasdaq is really driving us today. You have a couple of upgrades and RIM's outlook is very good, " said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey. "But I'm still a believer that we're in a downtrend. Until I see news there's more clarity on the financial front and see more liquidity in the bond market, it smells like a rally that should fizzle."
RIM shares were up more than 9 percent at $107 in trading before the opening bell. Cisco stock gained 2.5 percent to $23.20.
S&P 500 futures were up 7.7 points, above fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.
Dow Jones industrial average futures rose 46 points, and Nasdaq 100 futures were up 18.75 points.
Futures held their gains despite government data that showed the four-week moving average of jobless claims were at their highest level in more than two years.
Other clues about the economy on Thursday could from the Conference Board's report on January leading economic indicators and the Philadelphia Federal Reserve Bank's February business activity survey, both due at 10 a.m. EST.
J.C. Penney Co Inc reported a smaller-than-expected decline in quarterly profit, sending shares of the department store chain up 2.3 percent to $49.05.
Oil edged down from its climb to a record $101.32 a barrel on Wednesday when the March contract expired, fueled by hedge fund inflows and OPEC supply concerns. U.S. crude for April delivery fell 0.6 percent to $99.07 on Thursday.
Japan's Nikkei jumped nearly 3 percent on metal shares. Europe's benchmark index was trading 1.5 percent higher after Nestle, the world's largest food company beat earnings expectations, defying record prices for ingredients like cocoa and milk.
(Editing by Kenneth Barry)
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