By Chuck Mikolajczak

NEW YORK (Reuters) - Stock index futures rose on Tuesday, indicating the S&P 500 may halt its recent selloff after comments from China's central bank eased recent concerns about a credit crunch in the world's second largest economy.

* The People's Bank of China said it would guide market rates to reasonable levels and expected seasonal factors which caused a recent spike in interbank market rates to gradually fade.

* The S&P 500 <.spx> on Monday closed at its lowest level since April 22 after China's central bank said the country's banks need to do a better job of managing their cash and due to continued worries about a reduction in stimulus measures from the U.S. Federal Reserve.</.spx>

* But equities pared losses late in the session after two Fed officials downplayed the notion of an imminent end to monetary stimulus. The benchmark S&P index has fallen 3.4 percent since the Fed signaled last week that it may begin to lessen stimulus should its economic forecasts hold true.

* Investors will also eye data on durable goods orders and the housing market for signs of strength in the U.S. economy, which may lend weight to the Fed's economic viewpoint.

* Durable goods orders for May are due at 8:30 a.m. (1230 GMT). Economists in a Reuters survey expect a 3.0 percent rise in orders in May compared with a 3.5 percent rise in April.

* S&P 500 futures rose 6.2 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 gained 55 points, and Nasdaq 100 futures added 13.25 points.

* Data expected at 9 a.m. (1300 GMT) includes the S&P/Case Shiller Home Price Index for April and the Federal Housing Finance Agency's home price index for April. The S&P/Case Shiller index is expected to show a rise of 1.2 percent versus the 1.1 percent climb in the prior month.

* New home sales data for May is expected along with June consumer confidence at 10 a.m. (1400 GMT). Economists in a Reuters survey forecast home sales at a total of 462,000 annualized units compared with 454,000 in April. Consumer confidence is expected to show a reading of 75.4 against the 76.2 announced in May.

* Lennar Corp , the No. 3 U.S. homebuilder, reported a 53 percent jump in quarterly revenue as it sold more homes at higher prices, and said orders rose 27 percent.

* European shares rebounded after steep falls, with some investors encouraged back into the market by the comments from China's central bank. <.eu></.eu>

* Chinese shares tumbled deeper into bear market territory, dragging down other Asian bourses, as worries spread that a cash squeeze could threaten China's economic growth and take the shine off an emerging U.S. recovery.

(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)

Source