* Futures up: Dow, S&P 500 up 0.4% each, Nasdaq 0.6%

* Nike ( NKE ) slumps on forecasting surprise Q4 sales drop

* Private payrolls and retail sales data awaited later in

the day

* Trump to address the nation on Iran war at 9 p.m. ET

(Updates prices)

By Purvi Agarwal and Twesha Dikshit

April 1 (Reuters) - U.S. stock futures rose on

Wednesday, after the indexes posted their biggest one-day gain

in nearly a year in the previous session, following President

Donald Trump's comments that suggested an end to the Middle East

conflict could be close.

Trump and Secretary of State Marco Rubio said on Tuesday

that the end of the Iran war could be near, signaling potential

for both direct talks with Iranian leadership and a winding down

of the conflict without a deal. Trump is scheduled to address

the country at 9 p.m. ET.

Global markets rallied, with Europe's STOXX 600 up

over 2%, South Korea's Kospi rising as much as 9% and

Japan's Nikkei climbing roughly 5%, as markets hoped for

a restoration of shipping through the Strait of Hormuz, one of

the world's key oil transit chokepoints.

Oil prices, which had surged since the war erupted in late

February, fell as much as 3% on Wednesday. U.S. energy stocks

slipped in premarket trading, with Exxon Mobil ( XOM ) and

Chevron ( CVX ) down about 2% each.

"While signs of a willingness to negotiate are positive,

hurdles remain before an actual end to the conflict. A

resumption of energy flows may take longer still," said analysts

at UBS Global Wealth Management.

"A sudden end to the conflict, while leaving the status of

the Strait of Hormuz unclear, may also leave energy prices

higher for longer."

At 06:34 a.m. ET, Dow E-minis were up 199 points, or

0.43%, S&P 500 E-minis were up 30.5 points, or 0.46%,

and Nasdaq 100 E-minis were up 151.75 points, or 0.63%.

The CBOE Volatility Index, known as Wall Street's

fear gauge, slipped to an over one-week low and was last down

0.41 points at 24.85.

Despite Tuesday's rally, the S&P 500 and the Nasdaq posted

their steepest monthly declines in a year, while the Dow logged

its sharpest drop since September 2022.

Investors will also parse a slew of economic data throughout

the day, including private payrolls, retail sales and business

activity surveys that could provide a read on how the economy is

holding up.

Domestic private payroll figures for March will be in focus

on Friday, although U.S. markets will be closed for the Good

Friday holiday.

Money market participants had priced out any easing from the

U.S. Federal Reserve this year after the war outbreak stoked

energy-driven inflation fears, clouding the outlook for interest

rate cuts. They had previously expected two reductions.

Comments from Federal Reserve policymakers Alberto Musalem

and Michael Barr will be tracked for any clues on the monetary

policy path.

In early movers, Nike ( NKE ) slumped 10.4% after the

sportswear giant forecast a surprise drop in its fourth-quarter

sales.

Shares of RH slid 18.6% after the luxury furniture

retailer forecast annual revenue growth below estimates and

missed expectations for fourth-quarter revenue.

Shares of nCino jumped 20.8% after the banking

software provider forecast first-quarter revenue above estimates

and announced an accelerated $100 million share repurchase

program.

(Reporting by Purvi Agarwal and Twesha Dikshit in Bengaluru;

Editing by Sherry Jacob-Phillips and Devika Syamnath)