Futures are trading above fair values this morning as Wall Street prepares for a strong start to the day.

There are two main factors at work today, strong earnings from computer giant Dell Computer (NASDAQ: DELL), and positive economic data on consumer spending that came out this morning.

DELL reported its first quarter numbers last night, and easily beat analyst estimates for the quarter, showing earnings of 38 cents per share, which was well above the 34 cents a share that analysts had been expecting to see. The company noted strong growth in both its consumer and commercial business lines as being key components to its strong quarter.

Also giving the market a boost this morning was the release of April consumer spending figures which showed a 0.2% rise in the month of April. This was in-line with what Wall Street was hoping to see, and a sign that the current economic slowdown and record high gasoline prices has not kept Americans from spending.

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