U.S. stock-index futures rose after employment gained more than forecast in December and hourly earnings retreated, bolstering the case to keep rates low even as the economy strengthens. S&P 500 contracts expiring in March climbed 0.2 percent to 2,058.7 at 8:41 a.m. in New York. The equity gauge has advanced 0.2 percent this week after a two-day rally erased losses for the year. Dow Jones Industrial Average contracts rose 15 points, or 0.1 percent, to 17,835 today. “Jobs reports month have been pretty strong for the past six months, and this is another continuation of that,� Michael James, a Los Angeles-based managing director of equity trading at Wedbush Securities Inc., said in a phone interview. Employment rose more than forecast in December and the jobless rate declined to 5.6 percent, wrapping up the best year for the labor market since 1999 and adding to evidence the U.S. is a standout in the global economy. The addition of 252,000 jobs followed a 353,000 rise the prior month that was more than previously estimated, a Labor Department report showed today in Washington. The jobless rate dropped the lowest level since June 2008. The report wasn’t all good news as earnings unexpectedly declined from a month earlier. Stronger employment growth underscores the U.S. economy’s resilience in the face of cooling markets that stretch from Europe to China. S&P 500 futures fell 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. A 500 billion-euro purchase program would take the ECB halfway toward its goal of boosting its balance sheet to avert a deflationary spiral in the euro area. Negative euro-area inflation this week bolstered the case for the ECB to start quantitative easing at its Jan. 22 meeting. ECB Stimulus Policy makers disagree about whether action is required, with some arguing deflation risks have increased and others pointing to the stimulating effects of lower prices on the economy. 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 support the U.S. economy even as it shows signs of strength. The benchmark index has recovered more than two-thirds of its losses after tumbling 4.2 percent over the previous five days as crude oil plunged below $48 a barrel for the first time since 2009. Equities rallied this week as Fed minutes signaled no change in interest-rate policy and optimism over employment growth. Most central bank officials agreed their new policy guidance means they are unlikely to raise interest rates before late April and a number expressed concern inflation could remain too low. To contact the reporters on this story: Sofia Horta e Costa in London at shortaecosta@bloomberg.net; Joseph Ciolli in New York at jciolli@bloomberg.net To contact the editors responsible for this story: Cecile Vannucci at cvannucci1@bloomberg.net; Jeff Sutherland at jsutherlan13@bloomberg.net Jeff Sutherland, Trista Kelley

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