* Ford, 3M, UPS rise after beating forecasts
* April U.S. consumer confidence on tap
* Futures up: Dow 40 pts, S&P 5.3 pts, Nasdaq 8.50 pts (Updates market activity, adds Coca-Cola, UPS earnings)
By Edward Krudy
NEW YORK, April 26 (Reuters) - Wall Street stocks were set to rise on Tuesday after stronger-than-expected earnings from bellwethers, including Ford Motor Co, 3M Co and United Parcel Service.
Corporate earnings have been generally strong so far this season, with around three-quarters of S&P 500 companies beating analysts' forecasts so far. That has helped push the Dow industrials up to near three-year highs.
"On balance we have seen good earnings come through and today is no exception," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. "We continue to see good news coming out of industrial America."
S&P 500 futures added 5.3 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 40 points and Nasdaq 100 futures rose 8.50 points.
Peter Cardillo, chief market economist at Avalon Partners in New York, said gains would likely be limited as investors remain cautious before the Federal Reserve's two-day policy meeting. The Fed will issue a statement and hold a press conference on Wednesday.
"I think the market basically stays on hold until the FOMC (Federal Open Market Committee meeting)," he said.
Investors are looking to the Fed for clues about the direction of monetary policy after it stops its $600 billion bond-buying program, scheduled to end after June.
U.S. consumer confidence data for April, to be released later on Tuesday, will be closely watched against a backdrop of rising oil prices and stubbornly high unemployment, which investors fear could hurt consumer spending.
Ford reported its best first-quarter profit in 13 years, driven by strong sales in its home market and demand for more fuel-efficient vehicles, sending its shares up 2.6 percent to $15.95 in premarket trade.
Industrial and consumer goods conglomerate 3M reported higher-than-expected quarterly profit, helped by sales to emerging markets, and raised its full-year profit forecast. The company's shares rose 3 percent to $96.99.
United Parcel Service, the world's largest package delivery company, reported a quarterly profit that beat estimates and raised its 2011 outlook, boosting shares 1.7 percent to $74.87.
On the downside Coca-Cola Co's quarterly profit missed Wall Street estimates by a penny, hurt by lost revenue in Japan, and its shares fell 1.8 percent to $66.50.
U.S. consumer confidence for April is due at 10 a.m. (1400 GMT). Economists see a slight uptick in the data over the previous month, but investors are worried that rising oil prices this year could start to dent confidence. (Editing by Kenneth Barry)