US STOCKS-Futures flat before Sept. payrolls, Netflix up

Reuters

* Netflix shares extend gains on strong earnings, moresubscribers

* Delayed September payrolls data due at 1230 GMT

* Futures: Dow up 5 pts, S&P up 1 pt, Nasdaq up 2 pts

By Rodrigo Campos

NEW YORK, Oct 22 (Reuters) - U.S. stock index futures werelittle changed on Tuesday amid caution before the government'sSeptember payrolls report, which was delayed by the governmentshutdown.

The jobs data could give investors clues about the economicrecovery and the future of the Federal Reserve's stimulusprogram that has helped the S&P 500 index hit record highs.However, the delay of more than two weeks of the data due to the shutdown in early October may make the report less relevantthan usual.

"Unless we get a number way out of consensus either way, Idon't think it will have much of an impact," said PeterCardillo, chief market economist at Rockwell Global Capital inNew York.

Economists in a Reuters survey forecast 180,000 jobs werecreated in September compared with 169,0000 jobs in August. Theunemployment rate for September is expected to be 7.3 percent,the same as the August rate.

Cardillo said a pullback could be "welcome and healthy forthe market right now" but expects the S&P 500 to close the yearhigher than its current level.

Netflix shares rose 9.4 percent in premarkettrading a day after it said it had added 1.3 million U.S.streaming customers in September. Netflix's third quarter netincome reached $32 million, up from $8 million a year earlier.

S&P 500 futures rose 1 point and were slightly belowfair value, a formula that evaluates pricing by taking intoaccount interest rates, dividends and time to expiration on thecontract. Dow Jones industrial average futures rose 5points and Nasdaq 100 futures added 2 points.

U.S. stocks ended little changed on Monday as lacklusterearnings reports from McDonald's and others fed concerns thatequities were overpriced, but the S&P 500 ticked up to close ata record high.

Transocean shares rose 4.8 percent in premarkettrading after S&P Dow Jones Indices announced the drillingservices company will replace Dell on the S&P 500 indexafter the close of trading next Monday.

Shares of cloud software maker VMware Inc rose 10.4percent before the open a day after it reported ahigher-than-expected quarterly profit as it sold more licensesto enterprise customers and indicated that strong licensingrevenue growth would continue into next year.

High-end handbag maker Coach posted asmaller-than-expected quarterly revenue as sales slipped inNorth America, its largest market, and its shares fell 3.7percent in premarket trading.

S&P 500 companies scheduled to report earnings include Amgen, Juniper Networks and Broadcom. Dowcomponents Travelers and DuPont reported resultsearlier Tuesday.

Rates

View Comments (0)