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U.S. Index Futures Rise as S&P 500 Heads for Best Week in Month

March 21 (Bloomberg) -- U.S. stock-index futures advanced, indicating that the Standard & Poor’s 500 Index will rise for a second day as it heads for its biggest weekly jump in a month.

Genco Shipping & Trading Ltd. surged 37 percent in early New York trading after saying it remains in talks about a potential debt restructuring. Yelp Inc. rose 2.2 percent in Germany after partnering with advertising platform YP. Nike Inc. fell 2.9 percent in the U.S. after saying quarterly sales may rise less than analysts had estimated.

Futures on the S&P 500 expiring in June added 0.2 percent to 1,870.5 at 9:22 a.m. in London. The gauge has climbed 1.7 percent this week and closed 0.3 percent away from its record high reached March 7. Dow Jones Industrial Average contracts gained 36 points, or 0.2 percent, to 16,301 today.

The S&P 500 rose 0.6 percent yesterday as reports on leading indicators and regional manufacturing fueled optimism in the economy, overshadowing concern that benchmark interest rates may rise in the middle of next year. The index lost 0.6 percent the previous day after Federal Reserve Chair Janet Yellen said the central bank’s stimulus program could end this fall and the rates could rise about six months later. The Fed had previously said it would not raise them for a considerable period, without specifying a time frame.

Tiffany & Co. and Darden Restaurants Inc. are reporting earnings today. About 73 percent of S&P 500 companies that have posted results this season have beaten analysts’ profit estimates, data compiled by Bloomberg show.

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