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June 6 (Bloomberg) -- U.S. stock-index futures climbed on speculation that yesterday's share slump, the biggest since January, were excessive given the outlook for corporate profits.

``The selloff was overdone yesterday,'' said Jonathan Monk, who helps oversee $1 billion at Aerion Fund Management Ltd. in London. ``It's logical that today there will be a bounce back from the sharp drop we saw.''

Exxon Mobil Corp., the world's largest publicly traded energy company, gained in Germany after crude oil traded near a three-week high. Google Inc. gained on a plan to offer a tool for creating and sharing spreadsheets on the Web as it steps up competition with Microsoft Corp.'s Excel.

Standard & Poor's 500 Index futures expiring in June added 2.2 to 1271.60 at 12:10 p.m. in London. Dow Jones Industrial Average futures climbed 17 to 11,100 and Nasdaq-100 Index futures increased 4.25 to 1587.

The S&P 500 may rebound for a third time in the past two weeks, technical indicators show. The index gained from its 200- day moving average, a measure of price trends, on May 23 and May 30, according to data compiled by Bloomberg. The S&P 500 is near that moving average again.

``At this level, we are seeing buyers come in to pick up bargains,'' said Angus Campbell, head of sales at Finspreads, a betting firm in London.

Advanced Micro Devices Inc., Intel Corp.'s largest rival in computer chips, rose after saying it will extend market-share gains this year. General Motors Corp. slipped before the automaker's annual shareholders' meeting.

Oil Gains

U.S. stocks tumbled yesterday after comments from Federal Reserve Chairman Ben S. Bernanke suggested interest rates may keep climbing as the economy slows. His remarks accelerated a decline that started as oil rose and a report showed slower expansion in U.S. service industries, causing concern that consumer spending will taper off.

Asian stocks today reached the lowest since March and European shares slid to the lowest in almost two weeks.

Exxon added 26 cents to $60.31 in Germany. Crude oil for July delivery gained as much as 0.4 percent to $72.90 a barrel in after-hours trading on the New York Mercantile Exchange as the European Union prepared to offer Iran a proposal for curbing its nuclear program.

``There are plenty of geopolitical reasons to justify the high oil price,'' said Francisco Salvador, head of equities at Venture Finanzas SA, a brokerage firm in Madrid. ``We could see it rise to $100.''

Advanced Micro Forecast

Google, owner of the most popular Internet search engine, gained $1.38 to $375.82 in Germany. Google Spreadsheets will read and save Microsoft Excel files, Product Manager Jonathan Rochelle said today in an interview.

Microsoft, the world's biggest software maker, lost 1 cent to $22.49 in Germany.

Advanced Micro shares climbed 3 cents to $29.09 in Germany. The chipmaker will probably raise its share of processors that go into desktop computers by a ``couple'' of percentage points from now to the ``mid-20s'' by the end of the year, President Dirk Meyer said in an interview today in Taipei.

It may also add ``a few'' percentage points in share of the market for chips that go into laptops, he said.

Intel rose 3 cents to $18.01 in Germany. The chipmaker may sell a major part of its communications businesses in an effort to strengthen the company against competition in its main markets, the Wall Street Journal said, citing people familiar with the matter.

A spokesman for Intel declined to comment on the company's plans, the Journal said.

GM Slips

GM, the world's biggest carmaker, lost 11 cents to $25.94 in Germany. The annual stockholders' meeting is likely to produce praise for the company's reductions in health-care and pension spending, Chief Executive Officer Rick Wagoner said in an interview.

There are no economic reports due today and no members of the S&P 500 are scheduled to release earnings.

Yesterday, the S&P 500 slid 1.8 percent to 1265.29, the worst performance since Jan. 20. The Nasdaq Composite Index dropped 2.2 percent to 2169.62, erasing its 2006 gain. The Dow average retreated 1.8 percent to 11,048.72, reaching the lowest since March 9.

Bernanke, in a speech to the American Bankers Association, said the Fed ``will be vigilant'' to ensure a pickup in inflation isn't sustained.

Comments today from two Fed officials may signal how long the central bank will keep raising rates.

Slowing Economic Growth

Fed Governor Susan Bies will speak on risk management at a Western Independent Bankers conference in Coronado, California at 11:15 a.m. New York time.

Fed Reserve Bank of Kansas City President Thomas Hoenig will speak about monetary policy and the economic outlook in Montrose, Colorado at 2:45 p.m. New York time.

The Fed has increased rates 16 consecutive times, to 5 percent. Policy makers are due to announce their next decision on June 29.

There are already signs the U.S. economy is slowing. A measure of non-manufacturing businesses, which make up the largest part of the economy, fell to 60.1 in May from 63 in April, the Institute for Supply Management said yesterday.

To contact the reporters on this story: Sharon Smyth in Madrid at ssmyth2@bloomberg.net.

Last Updated: June 6, 2006 07:32 EDT