* Futures up: Dow 69 pts, S&P 11 pts, Nasdaq 24 pts
By Tanya Agrawal
May 12 (Reuters) - U.S. stock index futures were higher on Thursday, a day after a rout led by consumer stocks led to the Dow post its biggest one-day drop in three months.
* Helping support the early rebound, oil prices were steady after the International Energy Agency said it expects a significant reduction in supplies later this year.
* Wall Street dropped on Wednesday as feeble quarterly reports from Walt Disney, Macy’s and Fossil undermined confidence across the consumer sector.
* The first retailer report on Thursday did little to assuage concerns. Shares of Kohl’s fell 6.9 percent to $36 premarket after the department store operator reported its first drop in net sales in six quarters.
* Ralph Lauren is scheduled to report results before markets open, while Nordstrom and Dillard’s are expected to report after the close.
* First-quarter earnings for S&P 500 companies have mostly beaten analysts’ expectations, but are estimated to have fallen 5.4 percent from a year ago, according to Thomson Reuters data.
* Jack in the Box rose 10.9 percent at $72.26 after the hamburger restaurant chain operator’s quarterly results beat expectations.
* Monsanto was up 4.9 percent at $94.75 after media reports said Germany’s BASF is mulling a bid for the company.
* Investors will also be keeping an eye on a trio of Federal Reserve speakers for clues regarding the future path of rate increases by the central bank.
* Cleveland Fed President Loretta Mester, a voting member of the central bank’s policy setting committee, will give a speech in Germany at 11 a.m. ET (1500 GMT).
* Boston Fed President Eric Rosengren, who has said investors’ expectations on the timing of rate hikes are out of sync with policymakers’ views, will speak in New Hampshire at 11:45 a.m. ET.
* Kansas City Fed President Esther George will present her views on the economy at 2:15 p.m. ET. George dissented at the Fed’s March meeting because she wanted an interest rate hike.
* The Fed next meets on June 14-15 and while various policymakers have hinted at two rate hikes this year, traders are pricing in only one due to mixed economic data and underwhelming corporate earnings.
Futures snapshot at 7:18 a.m. ET:
* S&P 500 e-minis were up 10.75 points, or 0.52 percent, with 184,173 contracts traded.
* Nasdaq 100 e-minis were up 23.5 points, or 0.54 percent, on volume of 24,634 contracts.
* Dow e-minis were up 69 points, or 0.39 percent, with 26,594 contracts changing hands. (Reporting by Tanya Agrawal; Editing by Savio D‘Souza)