U.S. stock-index futures fell, indicating the Standard & Poor’s 500 Index will snap a two-day rally, as investors await jobs data. S&P 500 contracts expiring in March lost 0.3 percent to 2,048.6 at 7:28 a.m. in New York after sliding as much as 0.4 percent. The equity gauge has advanced 0.2 percent this week, erasing its 2015 losses. Dow Jones Industrial Average contracts declined 55 points, or 0.3 percent, to 17,765 today. The S&P 500 rebounded from a five-day drop to gain 3 percent in the last two days on speculation that the Federal Reserve will shore up the U.S. economy even as it shows signs of strength. Optimism about the labor market also fueled gains after data yesterday showed fewer Americans filed for unemployment benefits last week. Data today may show 2014 was the strongest year for payroll growth since 1999. “We know the Fed is moving towards raising rates but the fact that they are in no rush to do so makes us more comfortable,� said Andy Nigg, head of equity and commodity strategy at Vontobel Asset Management in Zurich. “U.S. employment is still recovering, and we should probably see another fairly good number today to round off a strong year.� S&P 500 futures dipped lower earlier today after a person familiar with the matter said European Central Bank staff presented policy makers with models for buying as much as 500 billion euros ($591 billion) of investment-grade assets. Negative euro-area inflation this week bolstered the case for the ECB to start quantitative easing at its Jan. 22 meeting. Jobs Report Labor Department figures at 8:30 a.m. in Washington may show payrolls climbed by 240,000 in December, pushing the gain for all of 2014 to 2.89 million, the strongest annual performance since 1999. Economists forecast the jobless rate will drop to 5.7 percent, the lowest since before the credit crisis. The data underscores the view of Fed policy makers that the labor market is gaining pace, while meeting minutes this week signaled no change in interest-rate policy before late April. While the S&P 500 closed 1.4 percent away from a record, investors remain anxious after the index went three years without a correction. Options volume on U.S. exchanges rose 3.7 percent last year to the highest level after a record in 2011, according to data from the Chicago-based Options Clearing Corp. Macy’s, Starbucks Among stocks moving on corporate news today, Macy’s Inc. fell 2.7 percent in early New York trading after saying it will book as much as $110 million of charges in the fourth quarter related to store closings, restructuring plans, and asset impairments. Bed Bath & Beyond Inc. dropped 4.6 percent in Germany after narrowing its annual sales forecast. Starbucks Corp. slipped 1.1 percent after the world’s largest coffee-shop chain said Chief Operating Officer Troy Alstead will go on leave in March. Five Below Inc. sank 13 percent in premarket trading after its fourth-quarter sales forecast disappointed. SandRidge Energy Inc. rallied 32 percent. The oil-and-gas producer, which has lost 82 percent of its value since a peak last June, reported third-quarter profit that exceeded estimates and said it will reduce investment spending. To contact the reporter on this story: Sofia Horta e Costa in London at shortaecosta@bloomberg.net

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