December 28, 2017 / 1:51 PM / 3 months ago

US STOCKS-Wall St set to rise in muted holiday trading

* S&P 500 on track for best annual gains since 2013

* Live Ventures soars after reporting revenue jump

* J.B. Hunt Transport down on disappointing forecast

* Futures up: Dow 40 pts, S&P 2 pts, Nasdaq 14.25 pts (Adds comment, details on companies, updates prices)

By Sruthi Shankar

Dec 28 (Reuters) - Wall Street was set to open higher in thin holiday trading on Thursday, helped by a rally in commodities and a weaker dollar.

The dollar slipped to a four-week low against a basket of currencies, under pressure from a recent dip in U.S. 10-year bond yields. A weaker dollar tends to boost revenue of companies with large global presence.

Oil prices held near their highest in two-and-a-half years, while copper futures traded at four-year highs.

The benchmark S&P 500 has climbed about 20 percent this year, on track for its best annual gains since 2013, boosted by robust economic growth and corporate earnings.

A new tax law in the United States that lowers the tax burden on corporates is expected to fuel the rally in 2018.

“The strength of the market has been encouraging this year,” said Neil Massa, senior equity trader at Manulife Asset Management in Boston.

“The trend has been higher all year and a lot of people have been waiting for a pullback to get into the market, but they never really had that opportunity, and that’s surprising.”

At 8:32 a.m. ET (1332 GMT), Dow e-minis were up 40 points, or 0.16 percent, with 16,825 contracts changing hands.

S&P 500 e-minis were up 2 points, or 0.07 percent, with 54,482 contracts traded.

Nasdaq 100 e-minis were up 14.25 points, or 0.22 percent, on volume of 15,618 contracts.

Wall Street ended Wednesday with slight gains as advances in some major technology stocks offset losses in energy.

Trading volumes have been light in the holiday-shortened week between Christmas and New Year.

Bitcoin, which has gained more than 14,000 percent this year, fell 7 percent to trade at $14,325 on the Luxembourg-based Bitstamp exchange.

Shares of Live Ventures, owner of internet marketing firm LiveDeal, surged more than 80 percent after reporting a jump in annual revenue.

J.B. Hunt Transport fell 2 percent after the logistic services provider forecast current-quarter profit below estimates. (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D’Silva)

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