U.S. stock-index futures advanced, after benchmark gauges yesterday rose to their records, as investors awaited reports on industrial activity to gauge the health of the world’s largest economy. Exxon Mobil Corp. gained 1.7 percent in early New York trading after Warren Buffett’s Berkshire Hathaway Inc. disclosed a stake in the oil company. Interpublic Group of Cos. fell 1.6 percent after WPP Plc said it’s not planning a takeover. Futures on the Standard & Poor’s 500 Index expiring in December advanced 0.3 percent to 1,792.3 at 6:38 a.m. in New York. Dow Jones Industrial Average contracts added 33 points, or 0.2 percent, to 15,872. The S&P 500 and the Dow extended records yesterday as comments from Janet Yellen, nominated to the Federal Reserve’s chair, signaled she will continue the Federal Reserve’s stimulus efforts. Yellen said in Congress the central bank should take care not to withdraw stimulus, known as quantitative easing, too early from an economy that is operating below its potential. “In the short term, Yellen’s comments are positive for the markets as it is a very dovish tone,� said Benoit Peloille, an equity strategist at Natixis in Paris. “Yellen is in the same line as Bernanke, and she said she could do even more than him. Markets clearly like this tone. Yet in the longer term, she did highlight what we know already in that there are still strong weaknesses in the U.S. economy.� Equity Rally The Fed support has helped propel the S&P 500 higher by 165 percent from its March 2009 low. The gauge has rallied 26 percent so far in 2013 and is trading at 16.2 times projected earnings, topping the five-year average of 14 times earnings, according to data compiled by Bloomberg. Investors awaited data today on this month’s manufacturing in the New York region at 8:30 a.m. local time, and on U.S. industrial production for October at 9:45 a.m. Exxon, the world’s biggest oil company by market value, advanced 1.7 percent to $94.80 in premarket trading. Berkshire Hathaway reported a stake valued at about $3.7 billion. Buffett’s company said in a regulatory filing that it owned 40.1 million shares of Exxon (XOM) on Sept. 30. Berkshire shares rose 0.3 percent to $116.08 in Germany. Interpublic declined 1.6 percent to $17 in premarket trading. WPP denied a U.K. newspaper’s report that the world’s largest advertising company may be preparing a $25 per share cash bid for Interpublic, the second-biggest U.S. ad company. “WPP strongly refutes today’s story in the Daily Mail about an approach to Interpublic,� Richard Oldworth, a spokesman for WPP, said. The Daily Mail cited market rumors for its report. To contact the reporter on this story: Alexis Xydias in London at axydias@bloomberg.net To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

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