NEW YORK (Reuters) - Stock index futures rose on Monday, putting the S&P 500 on track for its third straight advance in the wake of Friday's better-than-expected payrolls reports and ahead of the start of earnings season after the close.
* The benchmark S&P index rose 1 percent in the prior trading session on the strength of the jobs report, although volume was light with many market participants still away after the Independence Day holiday on Thursday.
* Dow component Alcoa Inc
* Goldman Sachs analyst Davis Kostin said in a note to clients that rising earnings coupled with stable margins should lift the S&P 500 by 8 percent to the firm's year-end target of 1,750.
* S&P 500 futures rose 8.5 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. Dow Jones industrial average futures gained 64 points, and Nasdaq 100 futures added 21.50 points.
* Expectations call for S&P 500 earnings growth to rise 2.9 percent in the second quarter from a year ago, while quarterly revenue is forecast to increase 1.6 percent from a year ago, according to Thomson Reuters data.
* Later in the week, earnings are expected from JPMorgan Chase & Co
* An activist shareholder who has been battling Alere Inc's
* European shares rebounded, with investors being prompted to return to the market by a late recovery on Wall Street on Friday on expectations the economy could withstand a cut in U.S. monetary stimulus. <.EU>
* Asian shares tumbled on Monday as strong U.S. jobs growth increased the chances of the Federal Reserve rolling back its stimulus in coming months, sending the dollar to a three-year high against a basket of major currencies.
(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)
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