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Futures up: Dow 0.48%, S&P 500 0.60%, Nasdaq 0.78%

Oct 28 (Reuters) - U.S. stock index futures surged on

Monday, poised to recoup some losses from a turbulent trading

week as investors prepared for key corporate earnings and the

final phase before the Nov. 5 presidential election.

Dow E-minis were up 203 points, or 0.48%, U.S. S&P

500 E-minis were up 35 points, or 0.60% and Nasdaq 100

E-minis were up 160.5 points, or 0.78%.

The main focus, however, was on events in the week ahead,

most notably corporate results, with around 169 S&P 500

companies scheduled to report through the week.

That includes the bulk of the "Magnificent Seven" group of

megacap technology giants that have been Wall Street's biggest

drivers this year, as equities rallied to all-time highs.

Alphabet rose 1.6%, Meta Platforms ( META ) was up

1.3%, Microsoft ( MSFT ) was 1% higher, Apple ( AAPL ) gained

0.7% and Amazon.com ( AMZN ) added 0.9% in premarket trading,

ahead of their results later in the week.

AI-chip heavyweight Nvidia ( NVDA ) rose 1.3%. It had

briefly become the world's most valuable company on Friday, with

its market capitalization creeping ahead of Apple's ( AAPL ),

highlighting investor enthusiasm for

artificial-intelligence-linked growth stocks.

Markets seemed largely undeterred by rising Treasury yields,

after the prospect of higher rates in the prior week unsettled

equities and saw the S&P 500 and the Dow Jones Industrial

Average snap their six-week winning streaks.

The yield on the benchmark 10-year U.S. Treasury note jumped

as high as 4.292% on Monday, a level last seen over three months

ago, as investors increasingly expect the Federal Reserve to be

less dovish than initially expected with data pointing to

continued strength in the U.S. economy.

Economic data due this week will be crucial for that

assessment, with the release of the Personal Consumption

Expenditures index - the Fed's preferred inflation measure - as

well as the first release of third-quarter GDP data and the

crucial nonfarm payrolls report.

Investors all but expect a 25-basis-point rate reduction at

the U.S. central bank's next meeting, according to CME's

FedWatch.

"Even though we strongly favour the Fed cutting two more

times this year, this week's data may not substantially alter

the pricing of just 39 basis points of further Fed easing this

year," ING analysts said.

Investors were also focused on the Nov. 5 U.S. presidential

election, with markets more broadly pricing in a second Donald

Trump administration.

Futures tracking the economically sensitive small-cap

Russell 2000 jumped 0.5%.