By Michael P. Regan Nov. 5 (Bloomberg) -- U.S. stock-index futures extended gains after jobless claims decreased more than forecast and worker productivity and labor costs beat economists’ estimates. Futures on the Standard & Poor’s 500 Index climbed 0.3 percent to 1,050 at 8:31 a.m. in New York. Dow Jones Industrial Average futures added 25 points, or 0.3 percent, to 9,810. The S&P 500 has climbed 55 percent from a 12-year low in March after $11.6 trillion in government spending, lending and guarantees returned the economy to growth following four straight quarters of contraction. The index is trading at more than 21 times earnings, according to weekly data compiled by Bloomberg. That’s near the highest level since July 2002. Of the 394 companies in the S&P 500 that have published quarterly earnings since Oct. 7, 84 percent exceeded estimates, according to data compiled by Bloomberg. That would mark the highest full-quarter proportion in data going back to 1993. U.S. stocks yesterday erased most of a 156-point rally in the Dow average after a House bill to curb credit-card rates spurred concern about bank earnings, outweighing the Federal Reserve’s plan to keep interest rates at a record low. European stocks dropped today after profits at Zurich Financial Services AG and Munich Re missed analysts’ estimates. Asian shares declined as South Korea said it’s “unclear” whether the economic rebound will be sustained. The Bank of England slowed the pace of bond purchases as signs of an economic recovery give policy makers scope to wind down their money-printing program next year. The European Central Bank may signal it’s moving closer to withdrawing emergency stimulus measures after leaving its benchmark interest rate at a record low today

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