NEW YORK: US stock futures advanced, indicating the Standard & Poor’s 500 Index will halt a four-day decline, as payrolls climbed more than forecast in July even as the jobless rate unexpectedly rose to a five-month high.
Linkedln Corp, the biggest professional-networking website, surged 11% after forecasting sales that beat analyst estimates. Facebook Inc, which has tumbled 47% since the company went public in May, rose 1.1%.
S&P 500 futures expiring in September rose 1.4% to 1,381 at 9:09 a.m. New York time. Dow Jones Industrial Average futures added 158 points, or 1.2%, to 12,989.
The number of shares changing hands in Stoxx Europe 600 Index’s companies was 13% lower than the 30-day average at this time of day, according to data compiled by Bloomberg.
“The jobs report is neither here nor there,” said Mark Luschini, chief investment strategist for Philadelphia-based Janney Montgomery Scott LLC, which manages about $54 billion.
Equity futures rose as payrolls increased 163,000 following a revised 64,000 rise in June that was less than initially reported, Labor Department figures showed today in Washington. (Bloomberg/tw)