U.S. stock-index futures advanced after jobless claims decreased more than forecast last week, easing concern that a slow-to-recover labor market will stifle the economic recovery. Futures on the Standard & Poor’s 500 Index expiring in September climbed 0.3 percent to 1,062.6 at 8:35 a.m. in New York. Dow Jones Industrial Average futures rose 28 points, or 0.3 percent, to 10,008. Initial jobless claims decreased by 21,000 in the week ended July 3, Labor Department figures showed today in Washington. Filings were lower than the median forecast in a Bloomberg News survey. The number of people receiving unemployment insurance dropped to the lowest point since 2008, while those getting emergency benefits also declined after Congress failed to pass legislation extending the assistance. U.S. stocks rallied yesterday, sending the S&P 500 up 3.1 percent for its biggest gain in six weeks, as banks advanced and retail-sales growth bolstered optimism that consumer spending is weathering a drop in confidence. Still, the S&P 500 remains 13 percent below its April 23 high after a sovereign debt-crisis in Europe rattled markets and economic reports from the U.S. and China suggested that the recovery is stalling. Alcoa Inc. is due to unofficially start the second-quarter earnings season next week. Profits for S&P 500 companies are projected to have increased 34 percent in the April-June period and by the same amount in 2010, according to analysts’ estimates compiled by Bloomberg. Stocks have rebounded this week on optimism losses last quarter may be unwarranted given that the global economy is still growing.

Source