Feb. 1 (Bloomberg) -- U.S. stock-index futures maintained gains, signaling the market may halt a four-day slide, after an industry report showed companies added 170,000 workers to payrolls in January.
Futures on the Standard & Poor’s 500 Index expiring in March increased 0.7 percent at 8:18 a.m. in New York. Earlier gains came amid signs of improving manufacturing growth around the world.
The median projections of economists surveyed by Bloomberg News called for an advance of 182,000 jobs in today’s report from ADP Employer Services. Estimates of the 40 economists ranged from gains of 145,000 to 300,000.
The four-day retreat in U.S. stocks is the longest losing streak since November for the S&P 500 and the Dow Jones Industrial Average’s longest since August.
The S&P 500 is still up 19 percent from its 2011 low in October. The index’s average level over the past 50 days yesterday rose above its average from the past 200 days after slumping below since August. The pattern, known as a “golden cross,” may signal the rally will continue, according to technical analysts and investors whose decisions are influenced by price charts.
Equities around the world are off to the best start in 18 years, topping gains in commodities and handing investors January’s best returns, as U.S. economic growth shows signs of accelerating and European leaders move closer to a solution on the region’s debt crisis.
The MSCI All-Country World Index rose 5.8 percent including dividends in January as banks and mining companies rallied 9.3 percent or more, according to data compiled by Bloomberg. The S&P 500 climbed 4.4 percent for the best January since it added 6.1 percent in 1997, according to data compiled by Bloomberg.
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