U.S. stock futures rose, indicating the Standard & Poor’s 500 Index will extend its biggest weekly gain since November, as China’s premier drove investors out of Treasuries and Japan pledged aid for its economy. Bank of America Corp. jumped 6.8 percent, following a 19 percent advance yesterday, after the largest U.S. bank by assets said it is profitable. Citigroup Inc. and Wells Fargo & Co. increased at least 3 percent. Financial shares in the S&P 500 have soared 33 percent this week, the biggest gain since at least 1989. BHP Billiton Ltd. and Rio Tinto Group added at least 2.7 percent as copper and oil prices rose and on speculation China may boost its stimulus measures. S&P 500 futures expiring next week added 0.5 percent to 752.4 at 8:54 a.m. in New York. Dow Jones Industrial Average contracts climbed 35 points, or 0.5 percent, to 7,151. Europe’s Dow Jones Stoxx 600 Index rose 1.7 percent, while the MSCI Asia Pacific Index increased 3.5 percent. “The bulls seem to be taking the lead for now,” said Lawrence Creatura, portfolio manager at Federated Clover Investment Advisors, which manages $2.1 billion in Rochester, New York. “There’s been a change in tone to more positive comments from financial institutions in addition to the fact that the market had been largely oversold.” Treasuries fell for the first time in three days after China’s Premier Wen Jiabao said he’s concerned about the safety of U.S. government debt. The yield on the benchmark 10-year note rose 0.07 percentage point to 2.93 percent. U.S. equities yesterday completed the biggest three-day gain since November after General Electric Co. said losing the top credit rating at S&P won’t hurt business. Bank of America joined two of its biggest competitors, JPMorgan Chase & Co. and Citigroup, in saying that it made money during the first two months of the year, rebounding from the worst year for financial institutions since the Great Depression. The S&P 500 is on course for a 9.9 percent advance this week, the biggest increase since the period ended Nov. 28. The measure has increased 11 percent since closing at a 12-year low of 676.53 on March 9. Bank Shares Bank of America climbed 6.8 percent to $6.25, indicating the stock will extend an 86 percent gain this week. Citigroup, the recipient of $45 billion in government rescue funds, rose 7.8 percent to $1.80, while Wells Fargo added 3.2 percent to $14.40. Earnings at financial companies in the S&P 500 are expected to decline 27 percent in the first quarter of 2009, while rising more than 10-fold for the full year, according to estimates compiled by Bloomberg. BHP Billiton, the world’s largest mining company, and Rio Tinto, the third-biggest, rallied on speculation that China may boost its stimulus measures. China is able to add “at any time” to 4 trillion yuan ($585 billion) of stimulus measures to revive the world’s third- biggest economy, Wen told reporters in Beijing. He reaffirmed China’s target for 8 percent growth in 2009. Japan’s Prime Minister Taro Aso will ask ministers to propose measures and may be ready to announce a package to world leaders at the Group of 20 summit in the U.K. in April, Finance Minister Kaoru Yosano said in Tokyo today. BHP Billiton rose 2.7 percent to $41.90. Rio Tinto advanced 2.9 percent to $121.26. ArcelorMittal added 1.4 percent to $20.55. Copper rose in London and aluminum climbed to almost a one- month high as a rally in global equities eased concern that the recession is set to deepen and reduce metals demand. Crude oil traded near $47 a barrel, set for a fourth weekly gain, as OPEC prepared to meet this weekend to consider a cut in output. Technology Shares Palm Inc. climbed 4.7 percent to $8.23. The maker of the Treo and Centro mobile phones was raised to “outperform” from “sector perform” at RBC Capital Markets, which said the WebOS operating system “has raised Palm’s chances for Smartphone leadership.” National Semiconductor Corp. slipped 1.8 percent to $10.82 in Germany after the company’s credit rating was cut to junk by Standard & Poor’s, which cited “pressure on profitability.” A report today by Reuters/University of Michigan may show its consumer sentiment index fell this month to the lowest level since 1980, according to the survey median. As demand cools, imports also are falling. The trade deficit probably narrowed in January to $38 billion, the smallest in more than six years, economists said before a Commerce Department report. Goldman Sachs Group Inc. cut its forecast for the global economy for the second time in eight days after predicting a deeper recession in Europe. The bank now estimates a 1 percent contraction after previously saying the world economy may shrink 0.6 percent.

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