U.S. Stock Futures Rise; Alcoa, Freeport Gain

U.S. stock-index futures gained, indicating the Standard & Poor’s 500 Index will extend its biggest annual rally in six years, before reports that may show the decrease in home prices eased and consumer confidence rose. Alcoa Inc., the biggest U.S. aluminum maker, Freeport- McMoRan Copper & Gold Inc., and AK Steel Holding Corp. all advanced in Europe as metals prices climbed. Futures on the S&P 500 expiring in March added 0.4 percent to 1,127.30 as of 12:14 p.m. in London. Dow Jones Industrial Average Index futures gained 0.3 percent to 10,518 and Nasdaq-100 Index futures rose 0.3 percent to 1,881. Stocks in Europe and Asia also climbed. U.S. stocks advanced yesterday, sending the S&P 500 higher for a sixth straight day, as a rally in commodity producers offset speculation that interest rates will increase. The gauge is up 25 percent this year, the largest annual gain since 2003 and trimming the decline over the past decade to 23 percent. “If today’s economic data are good the market will continue to run smoothly,” said Peter Braendle, who helps oversee about $50 billion at Swisscanto Asset Management in Zurich. This year “required a lot of nerves. The beginning was very depressing and since March we’ve been able to breathe again and saw a decent recovery,” he said. The S&P 500 has rebounded 67 percent from a 12-year low in March after governments around the world enacted stimulus measures and the U.S. lent, spent or guaranteed more than $11 trillion to end the recession.