Stock index futures rose on Wednesday, as investors awaited a new round of economic data that may offer insight into the strength of a recovery.

Weekly jobless claims data, coming a day early because of the U.S. Thanksgiving holiday, will be released at 8:30 a.m. EST (1330 GMT), along with durable goods, personal income and consumption, all for October.

The Reuters/University of Michigan consumer survey will be released at 9:55 a.m. (1455 GMT) New home sales data for October will be out at 10 a.m.

On the earnings front, Deere & Co and Tiffany & Co reported results.

S&P 500 futures rose 5 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 25 points, while Nasdaq 100 futures rose 8.5 points.

As much as $7 trillion in debt piled up by banks falls due by the end of 2012, which could force them to refinance their borrowings at a higher cost, the Wall Street Journal reported, citing Moody's Investors Service.

European shares rose Wednesday morning, boosted by a revised 2010 U.S. growth forecast by the U.S. Federal Reserve, with miners among the top gainers. The pan-European FTSEurofirst 300 <.FTEU3> index of top shares was up 0.5 percent. Chinese shares jumped 2.1 percent.

Stocks fell on Tuesday on lackluster economic data, though the losses eased after the Fed raised its growth expectations.

(Editing by Jeffrey Benkoe)