October 22, 2013 / 12:14 PM / in 4 years

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

* Netflix shares extend gains on strong earnings, more subscribers

* 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 were little changed on Tuesday amid caution before the government’s September payrolls report, which was delayed by the government shutdown.

The jobs data could give investors clues about the economic recovery and the future of the Federal Reserve’s stimulus program 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 relevant than usual.

“Unless we get a number way out of consensus either way, I don’t think it will have much of an impact,” said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.

Economists in a Reuters survey forecast 180,000 jobs were created in September compared with 169,0000 jobs in August. The unemployment 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 for the market right now” but expects the S&P 500 to close the year higher than its current level.

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

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

U.S. stocks ended little changed on Monday as lackluster earnings reports from McDonald’s and others fed concerns that equities were overpriced, but the S&P 500 ticked up to close at a record high.

Transocean shares rose 4.8 percent in premarket trading after S&P Dow Jones Indices announced the drilling services company will replace Dell on the S&P 500 index after the close of trading next Monday.

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

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

S&P 500 companies scheduled to report earnings include Amgen , Juniper Networks and Broadcom. Dow components Travelers and DuPont reported results earlier Tuesday.

Our Standards:The Thomson Reuters Trust Principles.
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