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Stock futures build on "cliff" rally ahead of data

Stock futures advanced on Thursday, building on the previous session's steep gains, on expectations of progress toward reaching a fiscal agreement in Washington.

* The yield on Italy's 10-year bonds fell to the lowest in two years at an auction, amid relief that immediate risks over Greece had diminished.

* Tiffany shares tumbled more than 12 percent in premarket trading after the upscale jeweler reported quarterly results and lowered its full-year sales and profit forecasts.

* Kroger , the biggest U.S. supermarket operator, is also due to report third-quarter earnings.

* On Wednesday, the Dow Jones industrial average rose 106.98 points, or 0.83 percent, to 12,985.11. The S&P 500 gained 10.99 points, or 0.79 percent, to 1,409.93. The Nasdaq Composite added 23.99 points, or 0.81 percent, to close at 2,991.78.

(Reporting by Rodrigo Campos; Editing by Bernadette Baum)