Before the bell: US Stock futures rose
U.S. stock-index futures rose (S&P futures +9.9, Nasdaq +13.5. ), signaling the market may rebound from its worst drop in more than two years, as stronger-than-forecast growth in jobs eased concern the economy is sliding into a recession.
Non-farm payrolls increased in July by 117,000, which is greater than the increase of 84,000 that had been expected, on average, among economists. What's more, prior month payrolls were revised upward to reflect an increase of 46,000, instead of the 18,000 increase that had been initially reported. Private payrolls spiked by 154,000, which exceeds the 100,000 increase that had been widely anticipated. The better-than-expected payroll increases helped the headline unemployment rate come in at 9.1%, instead of the 9.2% that had been broadly forecasted by economists.
Company news: AIG (AIG) swung to a Q2 net profit of $1.84B from a loss of $2.66B a year earlier, when it was saddled with charges tied to discontinued operations.