U.S. Stock-Index Futures Advance; Freeport, Exxon Shares Rise

By Sarah Jones

Feb. 9 (Bloomberg) -- U.S. stock-index futures climbed, after the Dow Jones Industrial Average closed below 10,000 for the first time since November, as commodity prices rallied.

Freeport-McMoRan Copper & Gold Inc. and Exxon Mobil Corp. rose in German trading as metals rose in London and crude oil rebounded above $72 a barrel. Electronic Arts Inc. plunged 7 percent after the world’s second-largest video-game publisher forecast earnings that trailed some analysts’ estimates.

Futures on the Standard & Poor’s 500 Index expiring in March added 0.8 percent to 1,064.10 at 10:43 a.m. in London. Dow average futures increased 0.6 percent to 9,950, while Nasdaq-100 Index futures also rose 0.8 percent to 1,748.

U.S. stocks retreated yesterday, sending the S&P 500 down 0.9 percent amid concern that deteriorating European government finances will derail the economic recovery. U.S. equities have fallen for four straight weeks, the longest losing streak since July.

More than 300 companies in the S&P 500 have reported fourth-quarter earnings since Jan. 11, and about 77 percent have beaten analysts’ estimates, according to data compiled by Bloomberg. Coca-Cola Co. and Walt Disney Co. are among companies announcing results today.

Freeport, Exxon

Freeport, the world’s largest publicly traded copper producer, added 1.2 percent to $70 in Germany as the price of the metal rose for a second day in London on speculation that demand may swell on increased imports of metal into China, the world’s largest user.

Exxon, the largest U.S. company, gained 0.5 percent to $64.70 in German trading as crude oil traded around $72 a barrel in New York before a report due tomorrow that may show U.S. inventories of diesel and heating oil contracted last week. ConocoPhillips shares added 0.5 percent to $47.59.

Electronic Arts plunged 7 percent to $16.26 in Germany. Fiscal 2011 profit, excluding some items, will be 50 cents a share to 70 cents a share, the Redwood City, California-based company said in a statement after the close of trading yesterday. That’s less than the $1 a share projection of Michael Pachter, an analyst at Wedbush Morgan Securities in Los Angeles.

To contact the reporters on this story: Sarah Jones at sjones35@bloomberg.net