U.S. stock-index futures rose, indicating the S&P 500 Index may rebound after a surging dollar sparked the biggest equities selloff in more than two months. Contracts on the Standard & Poor’s 500 Index expiring in March advanced 0.4 percent to 2,049.20 at 8:49 a.m. in New York, while Dow Jones Industrial Average futures rose 37 points, or 0.2 percent, to 17,703. “Yesterday’s fall was one of the biggest this year so seeing futures trying to stabilize is not that much of surprise,” said Stewart Richardson, chief investment officer at RMG Wealth Management LLP in London. “Prices have come down in the last few days partly due to fears over higher interest rates in the future and also a growing fear that a strengthening U.S. dollar is beginning to have an impact over U.S. earnings.” The dollar’s ascent to a 12-year high versus the euro sent American stocks tumbling yesterday, erasing gains for the year on concern earnings are in worse shape than investors recognized. The S&P 500 is down 0.7 percent in 2015, with the index trailing all but one of 24 developed markets. A 10 percent strengthening in the trade-weighted dollar lowers the estimated 2015 profit for the S&P 500 by about $3 a share, according to an earnings model created by Goldman Sachs Group Inc. The benchmark equity gauge will have earnings per share of $123.52 this year, according to the average of 20 strategist forecasts compiled by Bloomberg.
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