U.S. stock futures climbed, after the Standard & Poor’s 500 Index posted its first monthly loss since October, before a report that may show manufacturing rebounded last month from its largest contraction since 2009. Onyx Pharmaceuticals Inc. surged 52 percent in pre-market New York trading after saying it is in contact with other possible bidders following its rejection of an unsolicited offer from Amgen Inc. Pandora Media Inc. (P) added 3.9 percent as Morgan Stanley raised its rating on the stock. Barrick Gold Corp. lost 1.2 percent after saying it will writedown as much as $5.5 billion on its gold mine in the Andes. S&P 500 futures expiring in September rose 0.5 percent to 1,607.3 at 7:37 a.m. in New York. The equity benchmark lost 1.5 percent in June, paring its advance in the second quarter to 2.4 percent and ending its longest streak of monthly gains since 2009. Contracts on the Dow Jones Industrial Average added 79 points, or 0.5 percent, to 14,903 today. “The U.S. market is very resilient,� said Tom Walker, head of U.S. equities at Martin Currie Investment Management Ltd., which manages 5.4 billion pounds ($8.2 billion), said by phone from Edinburgh. “It has been really strong in the first half of the year, and there’s scope for even more recovery from the weakness following Bernanke’s comments.� The S&P 500 (SPX) has rallied 13 percent so far this year, the best performance since a 17 percent gain in the first six months of 1998. The gauge has dropped 3.8 percent since May 21, the day before Fed Chairman Ben S. Bernanke signaled the central bank could scale back asset purchases if the economy improves in line with forecasts. Volatility Jumps The Chicago Board Options Exchange Volatility Index, the measure of options on the S&P 500 known as the VIX, increased 33 percent last quarter, its biggest gain since the three months through September 2011. It has climbed 49 percent since hitting a six-year low in March. A report at 10 a.m. New York time will probably show that U.S. manufacturing rebounded from its lowest level in almost four years. The Institute for Supply Management’s factory index rose to 50.5 in June from 49, according to the median estimate of economists surveyed by Bloomberg. A reading of more than 50 means that activity expanded. A separate release from the Commerce Department at the same time may show that construction spending climbed for a second month in May. In Japan, the quarterly Tankan index showed positive sentiment among large manufacturers for the first time in seven quarters. The measure rose to 4 in June from minus 8 in March, the Bank of Japan said. A positive figure means that optimists outnumber pessimists. Economists had predicted a reading of 3. Onyx Rallies Onyx Pharmaceuticals surged 52 percent to $132.05. The maker of the cancer drug Nexavar has solicited interest from at least two companies since Amgen’s $120-a-share offer was reported after the market closed on June 28, according to a person familiar with the matter who asked not to be identified because the discussions were private. Pandora Media rose 3.9 percent to $19.12 in early New York trading. Morgan Stanley said it upgraded the shares to overweight, similar to a buy recommendation, saying the online music service stands to benefit as advertising shifts to digital platforms from traditional radio. Biogen Idec Inc. (BIIB) increased 2.7 percent to $221 as Citigroup Inc. raised its rating on the world’s biggest maker of multiple-sclerosis drugs to buy from neutral. The shares have surged 47 percent so far this year. Barrick Gold lost 1.2 percent to $15.55. The world’s biggest gold miner may take a writedown of as much as $5.5 billion on its Pascua-Lama project on the border between Chile and Argentina, according to a statement late June 28. 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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