* Futures up: Dow 62 pts, S&P 4.75 pts, Nasdaq 15.5 pts
By Abhiram Nandakumar and Ankur Banerjee
Dec 23 (Reuters) - U.S. stock index futures were higher on Wednesday as crude oil prices continued to rebound and investors awaited a slew of economic data.
* Global stocks rallied for the third straight session and the dollar eked out small gains in trade gradually winding down for the holidays.
* Oil prices edged up after an unexpected fall in U.S. inventories, but hovered near multi-year lows as a supply glut persisted and demand looked set to remain muted. Exxon shares were up 1.1 percent, while Chevron rose 1.4 percent in premarket trading.
* U.S. stock markets will have a shortened session on Thursday and stay closed on Friday for Christmas. Trading volumes are expected to remain relatively light through the holiday period.
* U.S. consumer spending rose by 0.3 percent last month, according to data inadvertently released late on Tuesday, 12 hours ahead of schedule.
* The Commerce Department will publish the full report, which includes income and inflation data, at 8:30 a.m. ET (1330 GMT).
* Other data scheduled for Wednesday includes the University of Michigan’s consumer sentiment index, which is expected to rise to 92 in December from the preliminary 91.8 reported previously. The report is due at 10:00 a.m.
* Wall Street rallied on Tuesday, with the Dow ending up 1 percent, bolstered by energy stocks and after data showed the U.S. economy grew at a fairly healthy clip in the third quarter.
* Investors will assess the economic data to get a bearing on the Federal Reserve’s next move.
* The central bank raised interest rates last week and said further hikes would be gradual.
* Micron shares were down 6.8 percent at $13.62 in premarket trading after the memory chip maker forecast a surprise loss for the second quarter.
* Celgene was up 5.5 percent at $117.24 after the drugmaker said it settled a patent litigation over its top-selling cancer drug, Revlimid.
* Dow component Nike was up 2.6 percent at $135.25 after the world’s largest sportwear maker reported futures orders that beat expectations.
Futures snapshot at 6:52 a.m. ET:
* Dow e-minis were up 62 points, or 0.36 percent, with 13,341 contracts changing hands.
* S&P 500 e-minis were up 4.75 points, or 0.23 percent, with 71,766 contracts traded.
* Nasdaq 100 e-minis were up 15.5 points, or 0.34 percent, on volume of 11,875 contracts. (Reporting by Abhiram Nandakumar and Ankur Banerjee in Bengaluru; Editing by Anil D‘Silva)