By Justin Carrigan Oct. 29 (Bloomberg) -- U.S. stock index futures rose, indicating the Standard & Poor’s 500 Index may halt a four-day slide, before a report that may show the world’s biggest economy emerged from its recession. The yen and the dollar fell. Futures on the S&P 500 Index added 0.4 percent at 10:22 a.m. in London after the benchmark gauge for U.S. equities posted a 4.6 percent drop since Oct. 22. The MSCI AC World Index of developed and emerging nations slipped for an eighth day, the longest stretch of declines since July 2008. The yen weakened against 14 of the 16 most-traded currencies tracked by Bloomberg. The dollar dropped versus 12. The Commerce Department may say the U.S. economy expanded for the first time in more than a year in the third quarter, reassuring investors who said in a Bloomberg survey an eight- month rally in stocks doesn’t yet mean it’s time to take on more risk. An October index of European confidence improved more than economists forecast, climbing to its highest level since September 2008. “Everyone is looking at the U.S. GDP figure,” said Nigel Rendell, an emerging-market strategist at RBC Capital Markets in London. “A good number may help the markets to bounce back a little.” The MSCI AC World Index extended its eight-day decline to 5.7 percent as energy shares retreated. Royal Dutch Shell Plc slid 3.6 percent in London after Europe’s largest oil company reported a 62 percent plunge in third-quarter earnings and said a “quick recovery” in energy demand and prices is unlikely. PetroChina Slumps PetroChina Co., the nation’s biggest oil producer, slumped 4 percent in Hong Kong after reporting profit that missed analysts’ estimates. The Shanghai Composite Index fell 2.3 percent to the lowest level in two weeks after China’s government said late yesterday it plans to tighten rules on personal loans. Russia’s Micex Index sank 2.1 percent, extending its drop from this year’s closing high to 10.6 percent. Russia is the second major emerging equity market to fall beyond the threshold that defines a so-called correction after Brazil’s Bovespa Index closed 10.5 percent below its 2009 high yesterday. Russia’s central bank cut its key interest rates to record lows today in an effort to boost lending and help lift the commodity-reliant economy out of its worst slump since official records began more than a decade ago. The ruble slid 0.3 percent to 29.2448 against the dollar. Yen, Dollar Down The yen and dollar declined most against the Norwegian krone, as investors bought higher-yielding currencies. The Dollar Index, which Intercontinental Inc. uses to track the U.S. currency against some of its biggest trading partners, snapped five days of gains, falling 0.2 percent. Crude oil for December delivery rose 0.3 percent to $77.72 barrel in electronic trading on the New York Mercantile Exchange. Oil reversed an earlier decline as the dollar weakened, making commodities more attractive to investors. Gold for immediate delivery rose 0.6 percent to $1,034.54 an ounce and silver advanced 1.1 percent, buoyed by investor demand for a hedge against a weaker dollar. Governments and central banks are preparing to remove stimulus measures after spending a total of $12 trillion, by International Monetary Fund estimates, to haul economies from Germany and France to Hong Kong out of the recession. The Federal Reserve has also held interest rates near zero percent to unlock credit markets after the collapse of subprime mortgages spurred more than $1.6 trillion in losses and writedowns at the world’s biggest financial firms. Bouncing Back A Commerce Department report at 8:30 a.m. in Washington may show that the U.S. economy grew for the first time in more than a year. The economy expanded at a 3.2 percent annual pace from July through September after shrinking in the previous four quarters, according to the median estimate of 79 economists surveyed by Bloomberg News. U.S. GDP “has to come in above consensus, with evidence of a bounce in personal consumption and investment, to stop profit taking in pro-risk positions from morphing into a more severe clearout,” Kenneth Broux, an economist at Lloyds Banking Group Plc in London, wrote in a research report today.

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