Stock futures rise on China trade data surprise

* China exports fell just 1.4 percent in December, much less than the expected 8 percent drop, allaying some concerns about the health of the world's second biggest economy.

* Global stocks rose. Crude prices were up for the first time in eight days, also helped by a surprise decline in U.S. inventories.

* Oil fell briefly below the widely watched $30-per-barrel level on Tuesday.

* U.S. stocks closed higher on Tuesday as a late afternoon reversal in energy and biotechs helped the Nasdaq snap an eight-day losing streak.

* Shares of Ford were down 2.9 percent at $12.48 premarket after the automaker's profit forecast missed estimates.

* Yum Brands was up 2.1 percent at $71 after it said China same-store sales grew 1 percent in December.

* Metlife was up 5 percent at $44.10 after the largest U.S. life insurer said it plans to separate a large part of its retail business.

* Microsoft was up 1.5 percent at $53.55 after Morgan Stanley upgraded the stock to "overweight," citing confidence in the software maker's cloud business.

* Boston Federal Reserve President Eric Rosengren, a voting member of the FOMC, is slated to speak at 7:45 a.m. ET (1245 GMT) on the economy's outlook.

* The U.S. Treasury Department is scheduled to release its budget report for December at 2 p.m.

Futures snapshot at 7:10 a.m. ET:

* Dow e-minis were up 88 points, or 0.54 percent, with 55,289 contracts changing hands.

* S&P 500 e-minis were up 11.5 points, or 0.6 percent, with 240,419 contracts traded.

* Nasdaq 100 e-minis were up 30.75 points, or 0.71 percent, on volume of 42,902 contracts.

(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Savio D'Souza)