* Dow, S&P 500 coming off worst month since Jan 2014
* Oil rises more than 3 pct, building on Friday’s gain
* Reads on manufacturing due after the market open
* Futures up: Dow 65 pts, S&P 7.75 pts, Nasdaq 11 pts
* Indexes decline: Dow 1.45 pct, S&P 1.3 pct, Nasdaq 1.03 pct
By Ryan Vlastelica
NEW YORK, Feb 2 (Reuters) - U.S. stock index futures rose on Monday, indicating a modest rebound after a recent downward trend that culminated in January being the worst month for the Dow and S&P 500 in a year.
* The S&P 500 has fallen more than 1 percent in three of the past four sessions, with volatility rising of late on weak economic data and concerns about whether instability in Europe will hurt corporate earnings growth in the United States.
* Market swings have gotten a third larger of late. Over the past 14 days the S&P has moved an average of 30 points between its high and low of the session. On January 9, that average was under 20.
* A recent driver of market weakness has been crude oil, which has lost more than half its value since June, putting heavy pressure on energy companies. However, oil’s recent trend has been positive. U.S. crude futures rose 2.7 percent on Monday, building on a surge of 8.3 percent on Friday.
* Investors will also be watching the energy company group as a number of major names are on tap to report, including Exxon Mobil. If earnings miss expectations have that have already been lowered, or if companies announce larger-than-expected cuts to their 2015 exploration spending plans, that could continue to weigh on the group.
* Investors are also looking to reads on the manufacturing sector from both financial data firm Markit and the Institute for Supply Management. Both are due out after the market opens, with the ISM main index seen falling slightly from the previous month though still showing growth in the sector.
* Zogenix Inc rose 12.6 percent to $1.52 in premarket trading and was one of the Nasdaq’s most active names. Late Friday the company received FDA approval new formulation of Zohydro ER, which treats central nervous system disorders.
* European shares fell 0.3 percent as investors continued to fret about the possible ramifications of Greece’s debt negotiations over the rest of the periphery. U.S. listed shares of the National Bank of Greece rose 9.1 percent to $1.20 in premarket trading.
Futures snapshot at 6:54:
* S&P 500 e-minis were up 7.75 points, or 0.39 percent, with 136,122 contracts changing hands.
* Nasdaq 100 e-minis were up 11 points, or 0.27 percent, in volume of 21,615 contracts.
* Dow e-minis were up 65 points, or 0.38 percent, with 23,339 contracts changing hands. (Editing by Chizu Nomiyama)