U.S. stock-index futures climbed, indicating equities may rebound from the biggest weekly loss in two years, as investors awaited earnings reports from companies including Michael Kors (KORS) Holding Ltd. and Marathon Oil Corp. Berkshire Hathaway Inc. advanced 0.5 percent in early New York trading after posting second-quarter profit that exceeded analysts’ estimates. Michael Kors added 3.8 percent before reporting first-quarter results. Standard & Poor’s 500 Index (SPX) futures expiring in September advanced 0.4 percent to 1,926 at 6:38 a.m. in New York as concern over financial stress at European banks eased following Portugal’s announcement of a bailout for Banco Espirito Santo SA. The Dow Jones Industrial Average rose 54 points, or 0.3 percent, to 16,470. “This week there’s not too much in terms of market-moving economic readings, so investors are likely to focus on earnings,� Kully Samra, who helps manage U.K. clients at Charles Schwab Corp. in London, said by phone. “Earnings have been pretty OK. It’s interesting that any company missing expectations has really been punished. The earnings bar was set pretty low at the start of the season, so it gives companies an opportunity to outperform.� The S&P 500 tumbled 2.7 percent last week, the most since June 2012, as companies including Exxon Mobil Corp. posted disappointing results, Argentina defaulted and Banco Espirito Santo was ordered to raise capital. The Chicago Board Options Exchange Volatility Index, which usually moves in the opposite direction to the S&P 500, jumped 34 percent to 17.03 last week. Earnings Reports Some 72 companies including Walt Disney Co. and Time Warner Inc. report earnings this week. Of the companies that have posted results so far this season, 76 percent beat earnings estimates and 65 percent exceeded sales projections, according to data compiled by Bloomberg. Berkshire Hathaway class B shares advanced 0.5 percent to $126.41. The company owned by Warren Buffett posted second-quarter operating earnings of $2,634 a share, as results improved at operating businesses including auto insurer Geico, railroad BNSF and the energy unit. That beat the $2,482 average estimate of analysts surveyed by Bloomberg. Net income surged 41 percent to a record $6.4 billion. Michael Kors gained 3.8 percent to $84.95 in premarket trading. The luxury-goods company will probably report first-quarter adjusted earnings of 81.4 cents a share on sales of $851.6 million, according to analysts’ estimates compiled by Bloomberg. D.R. Horton Inc. (DHI), the largest U.S. housebuilder by revenue, gained 2.7 percent to $20.97. Barron’s forecast the shares will rise to as high as $31 within a year as the housing market recovers and investors recognize the company’s optimistic outlook relative to its peers. To contact the reporter on this story: Namitha Jagadeesh in London at njagadeesh@bloomberg.net To contact the editors responsible for this story: Cecile Vannucci at cvannucci1@bloomberg.net Alan Soughley, Will Hadfield

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