* Alcoa reports earnings after the close
* Goldman Sachs sees year-end S&P at 1,750
* Futures up: Dow 64 pts, S&P 8.5 pts, Nasdaq 21.50 pts
By Chuck Mikolajczak
NEW YORK, July 8 (Reuters) - U.S. 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
* 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 kicks off earnings season
after the close. The aluminum company is expected to report
earnings of 6 cents per share on revenue of $5.83 billion.
* 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
* 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 and Wells Fargo & Co.
* Vivendi is exploring alternative moves to extract
cash from its Activision Blizzard unit after failing to
sell part of its 61-percent stake in the U.S. video games
business, the Financial Times reported on its website on Sunday.
* An activist shareholder who has been battling Alere Inc's
management said investors could more than double the
value of their stock if they backed a plan for the health
diagnostics and services provider to offload assets.
* 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.
* 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.