* May payroll report shows pace of hiring remains solid
* Indexes look to extend recent rally, on track for strong
* BofA could pay more than $12 bln to settle probes: WSJ
* Futures up: Dow 52 pts, S&P 3.5 pts, Nasdaq 10 pts
(Updates with payroll report)
By Ryan Vlastelica
NEW YORK, June 6 (Reuters) - U.S. stock index futures
pointed to a higher open on Wall Street Friday, indicating the
market's advance to repeated records could be extended after the
May payrolls report provided the latest confirmation that
economic conditions were improving.
* About 217,000 jobs were added in May, slightly fewer than
expected, while the unemployment rate held steady at 6.3
percent. With the report, the economy has recouped the 8.7
million jobs lost during the recession.
* While the report was modestly under forecasts, the bullish
trend in the data could serve as a positive catalyst for a
market that has been strong lately, though often notching only
slight gains as investors search for reasons to keep buying.
* The S&P 500 has risen in nine of the past 11 sessions,
gaining 3.6 percent over that period. It has ended at a record
high five times in the past six sessions.
* S&P 500 futures rose 3.5 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 added 52
points and Nasdaq 100 futures rose 10 points.
* For the week, the Dow is up 0.7 percent, the S&P is up 0.9
percent and the Nasdaq is up 1.3 percent. Both the Dow and S&P
are on track for a third straight weekly advance, while the
Nasdaq is on track for its fourth.
* Still, those gains have largely come in thin trading.
About 193,000 S&P 500 e-mini contracts traded hands as of
8:50 a.m. on Friday, on track for another day of tepid action.
* Hertz Global Holdings Inc fell 9.5 percent to
$27.60 in premarket trading after the company said it would
restate financial results for the past three years to correct
accounting errors from 2011.
* Bank of America Corp dipped 3 cents to $15.40
before the bell a day after the Wall Street Journal reported
that the bank could pay more than $12 billion to settle probes
by the Justice Department and a number of states into its
alleged handling of shoddy mortgages.
* Sources told Reuters that General Motors Co has
dismissed several high-ranking executives, including at least
one vice president and two directors, for their roles in the
still-unfolding drama over deadly ignition switches in older GM
cars. Shares of GM were up slightly in premarket trading.
* Novavax Inc was the Nasdaq's most active
premarket mover, down 7.5 percent to $4.18 in heavy volume a day
after a public offering of 25 million common shares was priced
at a discount to its Thursday close.
(Editing by Bernadette Baum)