U.S. stock futures were little changed, after the Standard & Poor’s 500 Index rose to a five- year high, as concern that China will refrain from monetary easing offset Japan’s $116-billion plan to boost the economy. Ford Motor Co. advanced in pre-market trading in New York after announcing a hiring plan. Chevron Corp. (CVX) rose after publishing an interim update for the fourth quarter and saying it expects profit to increase. Wells Fargo & Co. (WFC) may move as it will be the first lender to report earnings this season. S&P 500 futures expiring in March slipped less than 0.1 percent to 1,466.8 at 7:38 a.m. in New York. The equity benchmark has gained 3.2 percent since the New Year as lawmakers reached a budget compromise to avoid most scheduled tax increases and delay spending cuts. Contracts on the Dow Jones Industrial Average lost 6 points, less than 0.1 percent, to 13,400 today. “The U.S. is marking time ahead of the results season coming out; you can say we’re cautiously optimistic,� Nick Skiming, who helps manage about $2 billion Ashburton Ltd. in Jersey, the Channel Islands. “We think margins are at peak levels at the moment, so it might be difficult in the short-term for the U.S. market to sustain a pick-up in demand. The impact in the last quarter from the budget discussions may have had some impact in terms of corporate spending, and how that’s affected earnings is a big factor.� Almost 81 percent of the 26 S&P 500 companies that have reported results so far this season have exceeded analysts’ estimates for profit, data compiled by Bloomberg show. China Inflation In China, the benchmark Shanghai Composite Index dropped the most since Sept. 20 as the country’s December inflation rate accelerated more than forecast to a seven-month high, limiting room for further economic stimulus. In Japan, the Cabinet Office said the government will spend 10.3 trillion yen ($116 billion) to pull the economy out of its third recession in the last five years. The stimulus will increase gross domestic product by about 2 percentage points and create some 600,000 jobs, according to a statement. The quickening rate of price increases point to tighter monetary policy, a stronger currency to curb imported inflation, less liquidity and higher interest rates in the second half of the year, said Dariusz Kowalczyk, a Hong Kong-based strategist at Credit Agricole CIB. Ford Hiring Ford (F) added 0.9 percent to $13.96 in early New York trading. The second-largest U.S. automaker will hire 2,200 salaried employees this year, the most in more than a decade, in an indication of strength in the American market. Goldman Sachs Group Inc. added the company to its “conviction buy� list after the announcement. Chevron, the second-largest U.S. energy company, rose 0.8 percent to $111.33 in pre-market trading after saying it expects “notably higher� profit in the fourth quarter, compared with the third. The San Ramon, California-based company will to report quarterly results on Feb. 1. BioTime Inc. (BTX) gained 3 percent to $4.50 in early New York trading. The maker of regenerative-medicine products said it expects to begin human clinical trial for its stem-cell delivery platform Renevia in the second quarter, pending approval from European regulators. Research In Motion Ltd. (RIM) dropped 2.4 percent to $11.63 in early New York trading as some users of the company’s Blackberry’s smartphones are being affected by connection issues today, according to Simon Gordon, a spokesman for Vodafone Group Plc. A RIM spokeswoman declined to comment immediately on the issue. Wells Fargo may move as it reports quarterly earnings at 8 a.m. New York time. The fourth-largest U.S. lender will be the first major bank to announce results. To contact the reporter on this story: Sofia Horta e Costa in London at shortaecosta@bloomberg.net To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

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