US stock-index futures slightly change after S&P reached record highs

U.S. stock-index futures were almost unchanged, after the Standard & Poor’s 500 Index climbed to a record yesterday, as investors awaited an employment report to evaluate whether policy makers will reduce their bond-buying program.

S&P 500 futures expiring next month added 0.13% to 1,700.5 at 12:33 a.m. in London before a report that may show the U.S. economy created 185,000 jobs last month. The equity benchmark soared above the 1,700 level yesterday for the first time as European Central Bank President Mario Draghi stated that interest rates will remain low for an extended period of time. Future contracts on the Dow Jones Industrial Average gained 0.13%, to 15,558 today.

“If we get a confirmation today in the region of 200,000 new jobs then there’s absolutely nothing to stop the Fed from tapering in September,” Stewart Richardson, from RMG Wealth Management LLP in London told Francine Lacqua on Bloomberg Television. “If things go well in the economy, or to the Fed’s plan, then they will probably be finishing by mid-2014 and we’ve got no problem with that.”

At 1:30 pm London time, Labor Department would release change in non-farm payrolls data which according to Bloomberg survey will show U.S. employers added fewer people in July, while the jobless rate fell to 7.5% from 7.6%. A separate report at 3 p.m. will show factory orders climbed 2.3% in June, after gaining 2.1% in May, economists predicted.

In corporate news, Chevron Corp., Viacom Inc. and Berkshire Hathaway Inc. are among nine S&P 500 companies that will report results today. Of the 382 companies in the benchmark to have already reported quarterly earnings, 74 percent have exceeded analysts’ profit estimates and 56 percent have beaten sales projections, data compiled by Bloomberg show.

AIG added 6% to $49.89. The insurer that repaid a government bailout last year announced a quarterly dividend of 10 cents a share. It also posted net income that climbed 17% to $2.73 billion in the second quarter.

LinkedIn surged 7.9% to $229.83. The operator of the secon largest social-network site also said revenue jumped 59% to $363.7 million in the second quarter. That exceeded the average analyst estimate of $354.3 million.

In Europe, stocks climbed for a fifth day, extending a nine-week high, as companies from Allianz SE to Axa SA reported earnings that beat estimates. The Stoxx Europe 600 Index advanced 0.26% to 304.09 at 12:40 a.m. in London, for its longest rally since April 25. The measure is heading for a weekly gain of 1.7% as central banks maintained their stimulus measures and investors weighed company results.