s&p 500 futures quotes

s&p 500 futures quotes

February 6th, 2015

U.S. stocks fluctuated, with equities poised for their biggest weekly gain this year, as investors weighed the prospects for higher interest rates after employers added more jobs than forecast in January.

The Standard & Poor’s 500 Index rose less than 0.1 percent to 2,063.08 at 9:48 a.m. in New York. The Dow Jones Industrial Average slid 1.16 points, or less than 0.1 percent to 17,883.72.

“It’s very tough to gun down these numbers — they bode well for the U.S. economy and employment trends overall,” Chad Morganlander, a money manager at St. Louis-based Stifel, Nicolaus & Co., which oversees about $160 billion, said in a phone interview. “The labor participation rate is continuing to show signs of life. It’s steady as she goes as more people find work.”

Employers in the U.S. added more jobs than forecast in January, capping the biggest three-month gain in 17 years, and workers’ earnings jumped.

The 257,000 advance in payrolls last month followed a 329,000 gain in December that was bigger than previously reported, figures from the Labor Department showed. The median forecast in a Bloomberg survey of economists called for a 228,000 increase. The unemployment rate climbed to 5.7 percent as the improving job market lured more Americans into the labor force.

A stronger economy has encouraged companies to boost hiring, creating a virtuous cycle of growth as Americans spend newfound incomes on goods and services. Sustained job growth will probably help assure Federal Reserve policy makers that the expansion is well-rooted and can withstand an increase in interest rates later this year.

E-Mini S&P 500 Futures: Bonds, Dollar

The yield on 10-year Treasuries jumped 7 basis points while the Bloomberg Dollar Spot Index gained 0.8 percent after the report.

“This is a very positive number,” said Lisa Hornby, a fixed income portfolio manager at Schroders in New York. The firm manages about 276 billion pounds ($447 billion) globally. “The market is starting to price the Fed back into 2015, we’d seen the market price out the Fed all year, now it looks like we’ll have a Fed hike at least priced into the tail end of the year now.”
Raising Rates

Fed Bank of Philadelphia President Charles Plosser said stronger U.S. economic data had him “at the cusp” of thinking the time to raise interest rates was now.

“We’re fast approaching” a point where it’s hard to justify not raising rates, Plosser told CNBC in an interview on Friday.

More than $1.3 trillion has been added to the value of global equities this week as higher oil prices boosted energy shares and companies including Pfizer Inc. and Staples Inc. announced more than $20 billion in deals. The S&P 500 increased 3.4 percent over four days, poised for its biggest weekly gain since December.

The benchmark gauge on Thursday erased its losses for 2015, after posting its worst month in a year. Stocks fell in January amid concern that slowing growth overseas will hurt the U.S. economy, while tumbling crude oil and the strengthening dollar weighed on earnings at multinational corporations.

Oil rallied for a second straight day on Friday, heading for the biggest two-week gain since March 1998. Brent crude climbed 9 percent this week, adding to an 8.6 percent gain last week. It’s still about half the price it was in June.

Moody’s Corp. is among seven S&P 500 companies reporting results today. About 77 percent of the gauge’s companies that have posted earnings this season have beaten analyst estimates, while 56 percent have topped sales projections, data compiled by Bloomberg show.

- Joseph Ciolli in New York and Inyoung Hwang in London at Bloomberg.