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U.S. Stock Futures Are Little Changed After ADP Payrolls Report

April 2 (Bloomberg) -- U.S. stock-index futures were little changed, after the Standard & Poor’s 500 Index reached an all- time high, as data showed companies added to payrolls last month.

Monsanto Co. added 1.8 percent after reporting quarterly profit that topped analysts’ estimates. MannKind Corp. doubled after its inhaled treatment for diabetes won the recommendation of a U.S. advisory panel. Apollo Education Group Inc. slipped 2.7 percent after it received a subpoena from the Education Department for marketing and recruitment records.

Futures on the S&P 500 expiring in June added 0.1 percent to 1,879.2 at 8:18 a.m. in New York. The equity gauge climbed 1.3 percent in the first three months of 2014, its fifth consecutive quarterly advance. Dow Jones Industrial Average contracts gained 19 points, or 0.1 percent, today.

“Growth appears not too strong to feed the Fed’s hawks but neither too slow to question the recovery, re-emphasizing the sweet-spot concept -- which should be the most favorable environment for risky assets in 2014,” Witold Bahrke, who helps oversee $55 billion as a senior strategist at PFA Asset Management in Copenhagen, wrote in an e-mail.

The S&P 500 rose 0.7 percent yesterday to cap a third day of gains, the longest streak since February, as consumer and technology stocks pushed the gauge to a record and an index of manufacturing boosted optimism the economy withstood the severe winter weather.

Data today showed companies in the U.S. boosted payrolls by 191,000 in March, according to figures from the ADP Research Institute in Roseland, New Jersey. The median forecast of 38 economists surveyed by Bloomberg called for a 195,000 advance.

The government’s monthly jobs report for March is due April 4.

Federal Reserve Chair Janet Yellen said last week that “considerable slack” in the labor market is evidence that the central bank’s unprecedented accommodation will be needed for “some time” to put Americans back to work.

The Fed stimulus has helped propel the S&P 500 higher by as much as 178 percent from its bear-market low in March 2009.

Reports from hiring to factory output had shown weakness this year as freezing temperatures and mountains of snow kept shoppers indoors, grounded flights and made it harder for shippers to fill product orders.

Monsanto added 1.8 percent to $116. The seed maker reported earnings from ongoing operations that topped estimates and reaffirmed its forecast for full-year profit.

MannKind surged 95 percent to $7.84. The biopharmaceutical company moved a step closer to getting its first product on the market after Food and Drug Administration advisers recommended that the FDA approve its Adfrezza drug for treating Type 1 and Type 2 diabetes. The agency doesn’t have to follow the panel’s recommendation.

Apollo Education slipped 3.3 percent to $34. The owner of the University of Phoenix said the department’s Office of the Inspector General demanded records going back to the beginning of 2007 relating to a centralized service center in Columbia, Maryland.

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