U.S. stock futures rose, signaling the Standard & Poor’s 500 Index will rebound from its seventh drop in eight days, amid bets Federal Reserve Chairman Ben S. Bernanke will hint at more stimulus during testimony to Congress. Goldman Sachs Group Inc. (GS) rose 1.8 percent after reporting second-quarter profit that exceeded analysts’ estimates and selling its hedge-fund administration unit to State Street Corp. Bank of America Corp. (BAC) and JPMorgan Chase & Co. (JPM) climbed at least 0.5 percent. Yahoo (YHOO)! Inc. advanced 1.9 percent after the company that owns the biggest U.S. web-portal named Marissa Mayer as chief executive officer. S&P 500 futures expiring in September gained 0.5 percent to 1,353.5 as of 8:13 a.m. in New York. The U.S. equity benchmark lost 0.2 percent yesterday. Dow Jones Industrial Average futures added 51 points, or 0.4 percent, to 12,699 today. “Stocks are being helped by expectations about Bernanke’s testimony to Congress later today,� said Jakup Petur Baerentsen, a chief equity adviser at Nordea Private Bank in Copenhagen. “Investors are speculating if he’ll hint a third round of quantitative easing� Bernanke will deliver his semi-annual report on the economy and monetary policy before Congress today and tomorrow, after data yesterday showing a contraction in June retail sales kindled speculation the Fed will introduce more measures to support the world’s largest economy. Stimulus Timing Minutes from the Fed’s June meeting, released on July 11, showed that two participants supported additional bond purchases, while two others said only a further deterioration in the economy would warrant them. The cost of living in the U.S. probably was little changed in June, economists said before a report from the Labor Department at 8:30 a.m. in Washington. At 9:15 a.m., Fed figures may show industrial production increased 0.3 percent in June after a 0.1 percent drop the prior month, according to the median estimate in a Bloomberg survey. The Citigroup Economic Surprise Index for the U.S., which measures how much data from the past three months is beating or missing the median estimates in Bloomberg surveys, is at minus 64, near the almost 11-month low of minus 64.9 reached last week. The gauge peaked at 91.9 in January. Earnings (SPX) beat estimates at 30 of the 42 companies in the S&P 500 that have reported quarterly results so far, data compiled by Bloomberg showed. Goldman Sachs Goldman Sachs climbed 1.8 percent to $99.40. The fifth- biggest U.S. bank by assets reported an 11 percent drop in earnings that beat analysts’ estimates on trading even as first- half revenue fell to the lowest since 2005. State Street Corp., the third-largest custody bank, bought Goldman’s hedge-fund administration unit for $550 million. JPMorgan Chase, the largest U.S. bank, rose 0.5 percent to $35.25, while Bank of America, the second-biggest, advanced 1 percent to $7.89. Yahoo rallied 1.9 percent to $15.95 after the company appointed Mayer as its fifth CEO in four years as it seeks to stem user defections and market-share losses that have contributed to three years of revenue declines. Mattel Inc. (MAT) jumped 6.3 percent to $33 after reporting second-quarter profit was 28 cents a share, exceeding the average analyst estimate by 7 cents. Mosaic Co. (MOS) climbed 2.9 percent to $57. The second most- valuable North American fertilizer producer doubled its dividend and posted fourth-quarter earnings that beat analysts’ estimates after an extended spring season. To contact the reporter on this story: Inyoung Hwang in New York at ihwang7@bloomberg.net To contact the editor responsible for this story: Lynn Thomasson in New York at lthomasson@bloomberg.net.

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