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BLBG: U.S. Stock-Index Futures Gain After S&P 500 Snaps Five-Day Slump
 
U.S. stock-index futures advanced, indicating the Standard & Poor’s 500 Index will climb for a second day after equities had their worst start to the year since 2008.

S&P 500 futures expiring in March added 0.9 percent to 2,037.7 at 7:07 a.m. in New York. Dow Jones Industrial Average contracts rose 167 points, or 1 percent, to 17,676. Nasdaq 100 Index futures also climbed, with Twitter Inc., Facebook Inc. and Apple Inc. gaining in early New York trading.

“The New Year hangover has finally cleared,” said Justin Urquhart Stewart, who helps oversee about $10 billion at Seven Investment Management LLP in London. “Yesterday’s turnaround broke the negative line of falls and has given a chance to push back against poor sentiment. There should be a positive fillip to the market.”

The S&P 500 rose 1.2 percent yesterday, the biggest gain in three weeks and the first since the start of the year. Relief that Federal Reserve minutes signaled no change in interest-rate policy and optimism on employment growth helped break a five-day slide in the American equity benchmark.

A Labor Department report today in Washington will show 290,000 workers filed first-time applications for unemployment benefits in the week ended Jan. 3, economists surveyed by Bloomberg predict. That would be down from 298,000 in the period before. A report tomorrow will probably say the jobless rate fell to 5.7 percent.

Data tomorrow may also show U.S. employers added fewer workers in December, with economists expecting the Labor Department to report an increase of 240,000 from a jump of 321,000 the previous month.

Twitter, the world’s biggest microblogging website, added 1.9 percent. Facebook, the world’s largest social network, climbed 0.9 percent, while Apple rose 1.2 percent.

Isis Pharmaceuticals Inc. advanced 2.1 percent after saying its preliminary cash position at the end of 2014 was more than $150 million higher than forecast.

To contact the reporter on this story: Jonathan Morgan in Frankfurt at jmorgan157@bloomberg.net

To contact the editors responsible for this story: Cecile Vannucci at cvannucci1@bloomberg.net Trista Kelley
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