2009-Jul-23 - Futures hold gains after jobs data

NEW YORK (Reuters) – Stock futures held gains after government data showed weekly claims for jobless benefits rose roughly in line with expectations, while continued claims edged lower.

Futures edged up as quarterly results, including a brighter outlook from 3M Co (MMM.N), gave investors confidence that the earnings season will remain strong.

S&P 500 futures were up 4.4 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract cash advance. Dow Jones industrial average futures rose 33 points and Nasdaq 100 futures gained 5.75 points.

(Reporting by Rodrigo Campos; Editing by Padraic Cassidy)

Futures hold gains after jobs data