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MicroStrategy ( MSTR ) rises on Nasdaq 100 inclusion plan

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Crypto stocks gain after bitcoin touches new high

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Honeywell ( HON ) explores separation of aerospace business

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Futures up: Dow 0.12%, S&P 500 0.28%, Nasdaq 0.5%

(Updates prices ahead of market open)

By Lisa Pauline Mattackal and Purvi Agarwal

Dec 16 (Reuters) - U.S. stock index futures pointed to a

higher open on Monday, as investors looked ahead to an

anticipated Federal Reserve interest rate cut later in the week,

as well as several key data releases that will help set the tone

for policy next year.

The Fed's final rate decision of the year is due on

Wednesday, with traders pricing in an over 97% chance of a 25

basis point rate reduction, as per CME's FedWatch.

However, the primary focus will be on policymakers' outlook

for next year, with an updated "dot plot" of forecasts also to

be released, as bets moderate on the pace of rate cuts amid

strong economic growth and persistent inflation.

"The market's hungry for more cuts and the Fed's left with a

task of juggling - is this doable without creating inflationary

pressure?" said Andre Bakhos, managing member at Ingenium

Analytics.

"The odds favor the enthusiasm," Bakhos said.

A heavy data docket also awaits investors over the week. S&P

Global's December flash manufacturing and services PMIs are due

at 9:45 a.m. ET on the day, with industrial production figures,

retail sales, and personal consumption expenditure data also

scheduled throughout the week.

At 8:40 a.m. ET, U.S. S&P 500 E-minis were up

17.25 points, or 0.28%, Nasdaq 100 E-minis were up

108.25 points, or 0.5%, Dow E-minis were up 52 points,

or 0.12%

The benchmark S&P 500 and the blue-chip Dow

ended the previous week lower, while the tech-heavy

Nasdaq had clocked its fourth straight week of gains

after breaching the 20,000 mark for the first time.

Still, stocks have had a bumper run in 2024 as gains in

shares related to artificial intelligence, the start of the

Federal Reserve's rate cutting cycle and expected pro-business

policies from Donald Trump's incoming presidential

administration have lifted equities.

The benchmark index has gained nearly 27%, while the

Nasdaq Composite is up over 32% year to date.

Shares of MicroStrategy ( MSTR ) rose 4.4% in premarket

trading as the software company and bitcoin buyer was set to

join the tech-heavy Nasdaq 100 index.

Palantir ( PLTR ) and Axon Enterprise ( AXON ) gained 0.2%

and 1.8%, respectively, with the stocks also to be added to the

reconstituted index. The changes will take effect on Dec. 23.

Super Micro Computer ( SMCI ), among those set to be removed

from the index, dropped 11.8%.

Crypotocurrency stocks rose as bitcoin briefly jumped

above $106,000 after Trump suggested he plans to create a U.S.

bitcoin strategic reserve similar to its strategic oil reserve.

Coinbase Global ( COIN ) rose 1.9% and bitcoin miner MARA

Holdings ( MARA ) gained 3.1%.

Honeywell International ( HON ) gained 2.1% after the

industrial conglomerate said it was exploring a separation of

its aerospace business.

Shares of Michael Kors parent Capri Holdings ( CPRI )

were up 4.6% after J.P. Morgan hiked its price target on the

stock to $19 from $15, citing a continued trajectory of "gradual

improvement" at the company's brands.