* Futures up: Dow 96 pts, S&P 11.75 pts, Nasdaq 29.5 pts
By Abhiram Nandakumar
Jan 12 (Reuters) - U.S. stock index futures were higher on Tuesday as crude oil prices edged off 12-year lows.
* Global stocks recovered from early losses to rise slightly, but were still near multi-year lows as risk-averse investors shied away from equities.
* U.S. stocks have opened higher in the past two sessions, only to reverse course later in volatile trading as investors fretted about a China-led global growth slowdown and sharp turns in oil prices.
* The S&P 500 and the Dow closed slightly higher on Monday, boosted by Apple, but gains were limited by a drop in energy and materials stocks. The Nasdaq closed lower, dragged down by biotech companies.
* Crude flirted with a break below $30 per barrel on Tuesday. Data on options trades and analysts’ lowered forecasts suggest the market is betting on further declines.
* Investors are also worried about a U.S. earnings recession, with fourth-quarter profits expected to decline for the second straight quarter.
* Earnings at S&P 500 companies likely fell 4.2 percent on average in the quarter, according to Thomson Reuters data.
* Shares of Intel were up 1 percent at $32.39 premarket after JP Morgan resumed coverage of the stock with an “overweight” rating. Mizuho also raised its rating to “buy”.
* Apple was up 1.9 percent at $100.30. The stock on Monday helped boost the S&P 500, but has been under pressure over concerns about falling iPhone sales.
* Apollo Education jumped 22.4 percent to $7.81 on reports that PE firm Apollo Global Management was in talks to buy the for-profit education provider.
Futures snapshot at 7:20 a.m. ET:
* Dow e-minis were up 96 points, or 0.59 percent, with 64,911 contracts changing hands.
* S&P 500 e-minis were up 11.75 points, or 0.61 percent, with 260,485 contracts traded.
* Nasdaq 100 e-minis were up 29.5 points, or 0.69 percent, on volume of 46,813 contracts. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Savio D‘Souza)