MARKET SNAPSHOT: U.S. Stocks: Futures Rise, With New Labor Data In Focus

By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- U.S. stock futures gained Monday, with a new report on U.S. labor- market conditions due, in the wake of blowout September jobs data that lifted stocks last week.

Futures for the Dow Jones Industrial Average (DJZ4) rose 57 points, or 0.3%, to 16,978, and those for the S&P 500 (SPZ4) gained 6 points, or 0.3%, to 1,966.60. Futures for the Nasdaq Composite (NDZ4) gained 16 points, or 0.4%, to 4,032.

Data: The Federal Reserve's labor-market conditions index is due at around 10 a.m. Eastern Time, the first regularly scheduled release of the indicator. The LCMI condenses several pieces of labor data into one reading, in order to give a better view of the market than offered just by the unemployment rate, which dropped to 5.9% in September.

A good number for the new index would be seven, according to Bank of America.

On Friday, the S&P 500 (SPX) jumped 1.1%, and the Dow industrials (DJI) rose 220 points after the release of jobs data. These showed in September, the U.S. economy added 248,000 jobs and the unemployment rate fell below 6% for the first time since 2008, outstripping expectations.

The report showed wage growth is stagnating, which appeared to curb concerns about rising inflation -- something that could prompt the Fed to quickly raise interest rates.

Fed speakers: Kansas City Fed President Esther George, who has supported an interest-rate hike sooner rather than later, will talk about the U.S. economy after the market closes. George, who isn't a voting member of the Fed policy committee this year, will speak at 8:30 p.m. Eastern Time in Albuquerque, NM.

Stocks to watch:Medical technology company Becton Dickinson (BDX) has reached a deal to buy CareFusion (CFN) for $12.2 billion in cash and stock, the companies said late Sunday.

Tesla Motors (TSLA) is set to unveil its Model 3 mass-market car and new versions of its Model S sedan at an event on Thursday, according to Global Equities Research analyst Trip Chowdhry.

Walt Disney Co. (DIS) said Monday it has proposed and is backing a 1 billion-euro ($1.25 billion) recapitalization plan for Euro Disney S.C.A. , of which it is the largest shareholder.

Other markets: The dollar (DXY) slightly pulled back against major rivals after Friday's climb. Japan's Nikkei Average and Hong Kong's Hang Seng Index each rose more than 1%, and European stocks advanced. Oil futures edged higher, while gold prices picked up nearly $1 but traded below $1,200 an ounce. Gold on Friday turned negative for the year.

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