U.S. Stock-Index Futures Are Little Changed Before Payrolls Data

By Sofia Horta e Costa

U.S. stock-index futures were little changed, with equities heading for a seventh weekly gain, as investors awaited a report that may show job growth accelerated last month.
Futures on the Standard & Poor’s 500 expiring this month added 0.1 percent to 2,074 at 6:25 a.m. in New York. U.S. stocks fell from records yesterday as European Central Bank President Mario Draghi said policy makers will wait until early next year to assess the need for further stimulus. The comments disappointed some investors seeking faster action. Dow Jones Industrial Average contracts gained 25 points, or 0.1 percent, to 17,915 today.
“The focus is today is clearly the U.S. labor market data, and the U.S. economy appears to be on a stable growth path,” said Arno Endres, the Luzern, Switzerland-based head of financial analysis at Luzerner Kantonalbank. “U.S. markets were disappointed with
Draghi’s comments yesterday, but market conditions remain favorable.”
Labor Department data at 8:30 a.m. in Washington may show employers added more than 200,000 jobs in November for the 10th straight month, while the unemployment rate held at the lowest level since July 2008, according to economists in a Bloomberg survey. A separate report at 10 a.m. may show factory orders stagnated in October after falling the prior month.

Weekly Win

The S&P 500 (SPX) has gained 0.2 percent this week, heading for its longest winning streak in a year. The gauge has climbed for six Decembers in a row, posting an average return of 2.2 percent. It has rebounded 11 percent from a low in October amid speculation the U.S. economy is strong enough to withstand a slowdown overseas and tighter monetary policy after the Federal Reserve wound up its asset-purchase program.
Among stocks moving on corporate news, Gap Inc. added 2.3 percent in premarket trading after comparable sales unexpectedly rose in November. Synaptics Inc. jumped 7.2 percent in late New York trading after raising its revenue forecast for the second quarter. Ulta Salon, Cosmetics & Fragrance, Inc. gained 5.9 percent in Germany after saying annual sales will increase more than previously projected.
American Eagle Outfitters Inc. dropped 7.9 percent in Frankfurt and Five Below Inc. slumped 12 percent in extended trading after both retailers projected fourth-quarter profit that missed analysts’ estimates. Cooper Cos., a maker of contact lenses and surgical tools, dropped 2.5 percent after saying it expects lower annual profit and sales than previously estimated.