By Ryan Vlastelica

NEW YORK (Reuters) - Stock futures rose on Monday, indicating a rebound from the previous session's decline and that equities would start the second half of the year by building on the strongest first half of any year since 1998.

Gains in 2013 have largely been fueled by the Federal Reserve bond-buying stimulus program, which helped take major indexes to a series of record highs before pulling back on uncertainty over when the policy will end.

While Wall Street showed some signs of stabilization last week as comments from Fed officials assured traders the program would not be slowed imminently, the transition to a no-stimulus environment is expected to result in further volatility.

"Today we're mostly see a bounce off the sloppy day we had on Friday, but since this is a holiday week, and that means low liquidity, we could see some fireworks in terms of volatility," said James Dailey, portfolio manager of TEAM Asset Strategy Fund in Harrisburg, Pennsylvania.

Easing concerns over Fed policy contributed to the gain in futures on Monday, as did a 0.8 percent rally in Chinese shares <.ssec>, which rose after Beijing policymakers assured investors that there was ample liquidity in the system.</.ssec>

S&P 500 futures rose 7.9 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 82 points and Nasdaq 100 futures rose 16.75 points.

Last week, the S&P 500 <.spx> rose and ended a two-week streak of losses. However, it closed down for the month of June, breaking a seven-month rally.</.spx>

May construction spending data in on tap for release at 10 a.m. (1400 GMT) and is seen rising 0.6 percent. The June Institute for Supply Management survey on manufacturing is also scheduled for release at 10 a.m., and the main index is seen coming in at 50.5, slightly higher than the 49.0 posted in the previous month.

Markets have had something of a paradoxical relationship with economic data recently, with positive reads sometimes leading to market declines on concerns a strong economy means the Fed will withdraw its stimulus quickly.

"We're in a manic environment where people are confused, and that means they could start to view all data much more skeptically," said Dailey.

In corporate news, Onyx Pharmaceuticals Inc jumped 51 percent to $131 in premarket trading after the company said it was considering selling itself, though it had rejected a roughly $10 billion bid from Amgen Inc . Canaccord Genuity raised its price target on the stock to $140 from $105.

News Corp and 21st Century Fox will begin trading as two separate companies on Monday, giving investors the choice of a fast-growing entertainment business and a slower-growing but prominent publishing concern.

U.S.-listed shares of Barrick Gold fell 1.2 percent to $15.55 before the bell after BMO downgraded the stock to "underperform" from "market perform."

A number of analysts issued bearish comments on Research in Motion after the BlackBerry maker last week reported an unexpected operating loss for the quarter. Societe Generale downgraded the stock to "hold" from "buy" while at least three firms cut their price targets. U.S.-listed shares fell 4 percent to $10.04 in premarket trading.

On Friday, the Dow and S&P 500 fell in a volatile session, ending three straight days of gains. The Nasdaq ended slightly higher.

(Editing by Chizu Nomiyama)

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