By Chuck Mikolajczak
NEW YORK, Oct 13 (Reuters) - U.S. stock index futures climbed on Wednesday on increasing expectations the U.S. Federal Reserve will move again to prop up the economic recovery and after an upbeat outlook from Intel.
* U.S. stocks hit fresh 5-month highs on Tuesday and the dollar came under pressure as details from the Fed's latest meeting showed the U.S. central bank may once again flood markets with cheap cash "before long" to boost growth.
* The dollar came under broad selling pressure on Wednesday, and approached key lows against the euro, the Swiss franc and a basket of currencies on more signs of U.S. monetary easing. The dollar index shed 0.3 percent to 77.097.
* "It's a continuation of several factors, the Fed minutes, and certainly that induced a rally right across the board. We are seeing the dollar lower, gold and oil prices higher. That is adding risk flavor to the market," said Peter Cardillo, chief market economist at Avalon Partners in New York. "Plus, of course the news from Intel last night."
* Intel Corp forecast upbeat fourth-quarter sales and margins late Tuesday as resilient demand from emerging markets and corporations offset weak consumer spending. That raised hopes the technology sector could end 2010 on a strong note. Intel gained 1.5 percent to $20.07 in premarket trade.
* S&P 500 futures rose 7.8 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 jumped 70 points, and Nasdaq 100 futures advanced 14.75 points.
* JP Morgan Chase & Co rose 1 percent to $40.80 premarket after the No. 2 U.S. bank by assets reported quarterly results.
* Dutch chip equipment maker ASML Holding NV beat estimates with a big rise in quarterly profits on a surge in demand and said it should end the year with a record order book.
* Minutes of the Fed's meeting in September revealed officials thought the struggling recovery might soon need more help and discussed options, including possible adoption of a price-level target.
* The prospect of the additional Fed stimulus has created an inverse correlation between the dollar and equities, with a decline in the greenback triggering a move into equities.
* Chevron Corp forecast third-quarter earnings would be lower than the previous quarter, weighed down by a drop in U.S. production, higher costs and the effects from a weaker dollar.
* European shares rose more than 1 percent and touched a three-week high after the news from the U.S. Fed minutes.
* Asian stocks rose with technology-linked shares leading the way following the Intel forecast.