US STOCKS-Indexes set to open up as China trade data soothes nerves
* China trade data better than expected
* Crude oil snaps 7-day losing streak
* Microsoft rises on Morgan Stanley upgrade
* GM gains, Ford drops on contrasting forecasts
* Futures up: Dow 126 pts, S&P 16.5 pts, Nasdaq 37.25 pts (Adds details, comment, updates prices)
By Abhiram Nandakumar
Jan 13 (Reuters) - Wall Street was set to open higher on Wednesday, in tandem with a recovery in crude oil prices as positive Chinese trade data allayed fears about the health of the world's second-biggest economy.
China exports fell just 1.4 percent in December, much less than the expected 8 percent drop. A 4-percent fall in imports was also much smaller than many had feared.
Crude prices were up for the first time in eight days, also helped by a surprise decline in U.S. inventories. Oil briefly fell below the widely watched $30-per-barrel level on Tuesday. Continuación...