US stock index futures gains lightly

NEW YORK, Jan 22 (Reuters): US stock index futures gained slightly as investors awaited confirmation that the European Central Bank would announce new economic stimulus measures at a meeting on Thursday.

The ECB is widely expected to unveil a large bond-buying programme, which is designed to combat the risk of deflation and a weakening euro zone economy. A source told Reuters Wednesday the Executive Board had proposed that the bank buys 50 billion euros ($58 billion) in bonds per month from March.

Equities rose on that report, with many US stocks standing to benefit from accommodative programmes in Europe, one of the United States' key trading partners.

ECB President Mario Draghi will speak to the media at 8:30 am (1330 GMT), and if the details of the plan are perceived as inadequate to return inflation to target, that could spur market losses, especially with the benchmark S&P 500 within 3 per cent of its record closing high.

American Express Co late Wednesday reported revenue growth of 6.6 per cent, though the credit card company also said it would cut more than 4,000 jobs this year as expenses and provisions for bad loans rose. Shares dipped 1.7 per cent to $86.20 in light premarket trading.

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