* Weekly jobless claims fall more than forecast
* August existing homes sales data on tap
* Investors eye G20 meeting
* Futures: Dow up 34 pts, S&P up 4.1, Nasdaq up 9
(Updates with jobless claims data)
By Edward Krudy
NEW YORK, Sept 24 (Reuters) - Wall Street was set to rise at the open on Thursday after an unexpected fall in initial weekly jobless claims boosted optimism the labor market may be stabilizing.
The number of U.S. workers filing new claims for jobless benefits unexpectedly fell by 21,000 last week, government data showed on Thursday, and a less volatile unemployment claims gauge dipped to an eight-month low.
In a further sign the recovery is gathering momentum, sales of existing homes are expected to have risen for a fifth consecutive month in August - to 5.35 million - reaching their highest level in two years as buyers take advantage of a first-time home buyer tax credit. The figures are due at 10 a.m.
The jobless numbers are "helping to support stock prices," said Steve Goldman, market strategist at Weeden & Co in Greenwich, Connecticut. "There is still a great deal of momentum behind the market, a great deal of stock participation."
S&P 500 futures rose 4.1 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 34 points and Nasdaq 100 futures rose 9.50 points.
Microsoft Corp poured cold water on rumors it would acquire Electronic Arts Inc, saying it does not intend to buy the video game publisher. Electronic Arts shares fell 2.3 percent before the bell after jumping more than 8 percent in the previous session.
Abbott Laboratories made an offer to buy the drug unit of Belgian conglomerate Solvay SA, the Wall Street Journal said, citing people familiar with the matter. The move has raised the prospect of a bidding war for the unit.
U.S. stocks fell on Wednesday as investors worried the Federal Reserve is closer to pulling back on extraordinary measures to inject funding to shore up the economy.