(Corrects day to Thursday from Friday in first paragraph)
* Durable goods orders rebound strongly in Jan
* Salesforce up after raising revenue forecast
* HP Inc down after profit forecast misses estimates
* Futures up: Dow 18 pts, S&P 1.75 pts, Nasdaq 1.5 pts
By Abhiram Nandakumar
Feb 25 (Reuters) - U.S. stocks futures swung in and out of negative territory on Thursday as oil prices slid but data showed an uptick in U.S. manufacturing activity.
Orders for durable goods rose 4.9 percent in January, beating the 2.5 percent estimated, as demand picked up across the board.
Crude prices, the major stock market driver this year, swung lower as a global oversupply offset strong U.S. gasoline demand.
Fears are also increasing about the impact of low oil prices hitting the financial sector, with banks preparing for a wave of defaults from oil and gas companies.
“The market is being driven by oil, technicals and on pure emotion rather than tangible fundamentals,” said Andre Bakhos, managing director at Janlyn Capital in Bernardsville, New Jersey.
“Notwithstanding the recent rally, we’re starting to enter a period that’s going to give us greater volatility, choppiness and erratic behavior.”
At 8:32 a.m. ET (1332 GMT), Dow e-minis were up 18 points, or 0.11 percent, with 40,785 contracts changing hands. S&P 500 e-minis were up 1.75 points, or 0.09 percent, with 313,285 contracts traded. Nasdaq 100 e-minis were up 1.5 points, or 0.04 percent, on volume of 43,057 contracts.
Global stocks wobbled ahead of the Group of 20 nations summit in China, which is set to begin on Friday.
Investors are also watching out for the U.S. Federal Reserve’s next move on interest rates. While Fed Chair Janet Yellen hinted at raising rates in 2016, other policymakers are calling for a pause on the plan.
The Fed’s December rate hike may have spurred the selloff in equities because it was misinterpreted as a firm commitment to raise rates steadily through the year, St. Louis Fed President James Bullard, a voting member of the FOMC, told CNBC on Thursday.
Jobless data, also released on Thursday, showed claims increased slightly more-than-expected to 272,000 last week, but remained below levels consistent with a tightening labor market.
Shares of Salesforce were up 10.2 percent at $68.90 premarket after the company reported higher-than-expected revenue and raised its full-year forecast.
HP Inc was down 3.9 percent at $10.40 after the printer and PC maker forecast profit below estimates and said it would accelerate its restructuring program. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Saumyadeb Chakrabarty)