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 65 points, or 0.4%, to 16,986, and those for the S&P 500 (SPZ4) gained 7.4 points, or 0.4%, to 1,967.70. Futures for the Nasdaq Composite (NDZ4) gained 16 points, or 0.4%, to 4,031.

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.

Last Fridays strong jobs report led to the S&P 500 (SPX) jumping 1.1%, and the Dow industrials (DJI) rose 220 points. The U.S. economy last month added 248,000 jobs and the unemployment rate fell below 6% for the first time since 2008, outpacing 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:Hewlett-Packard(HPQ) shares climbed 6.4% ahead of the bell as the company said it plans to split into two, separating its personal-computer and printer businesses from its corporate hardware and services operations.

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. CareFusion shares rallied 25% in low-volume premarket. (Read more in Movers & Shakers http://www.marketwatch.com/story/container-store-helen-of-troy-in-focus-2014-10-03.).

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. Tesla shares were up 1% ahead of the open.

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.

J.P. Morgan Chase(JPM) won't notify those customers who have been affected by its summer security breach that their personal information was exposed, a spokesperson for the bank told MarketWatch on Friday.

Private-equity firms Blackstone Group(BX) and Carlyle Group(CG) are considering takeover deals outside of their client funds, in what would be a major shift for the industry, The Wall Street Journal reported.

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 (CLX4) edged higher, while gold prices (GCZ4) picked up more than $2 an ounce, but traded below $1,200 an ounce. Gold on Friday turned negative for the year.

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