* Futures up: Dow 29 pts, S&P 4.5 pts, Nasdaq 13.25 pts
By Yashaswini Swamynathan
Dec 28 (Reuters) - U.S. stock index futures rose on Wednesday, a day after strong economic data helped the Nasdaq close at a record high.
* With year-end celebrations around the corner, trading volumes are likely to remain light.
* Oil prices rose for the fourth day in a row and hovered close to a 2016 high ahead of a supply limit deal that will come into effect from Jan. 1.
* U.S. equities have been riding a post-election rally, feeding on optimism that Donald Trump’s policies would be business friendly, especially to banks and industrials. The rally has also been supported by a spate of strong economic data.
* The Dow Jones Industrial Average is likely to make a fresh attempt at breaching the elusive 20,000 mark, after coming within 20 points of the milestone on Tuesday.
* The Dow, which has gained the most among the three major Wall Street indexes from the Trump rally, is on track to have its best yearly gains since 2013. The S&P 500 is set to register a double-digit rise this year, compared with a 0.7 percent decline in 2015.
* The dollar index rose 0.3 percent and is on track for its best day since Dec. 15 after strong consumer confidence data on Tuesday lifted sentiment.
Futures snapshot at 6:59 a.m. ET:
* Dow e-minis were up 29 points, or 0.15 percent, with 8,875 contracts changing hands.
* S&P 500 e-minis were up 4.5 points, or 0.2 percent, with 38,791 contracts traded.
* Nasdaq 100 e-minis were up 13.25 points, or 0.27 percent, on volume of 8,055 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D‘Silva)