* Futures up: Dow 46 pts, S&P 5.75 pts, Nasdaq 13.5 pts
By Yashaswini Swamynathan
May 9 (Reuters) - U.S. stock index futures were higher on Monday, extending gains from Friday after the disappointing U.S. jobs report suggested the Federal Reserve would raise rates just once this year and as crude rallied after a wildfire in Canada hit supplies.
* Crude prices surged 2.2 percent to $45.64, rising for the fourth straight day after three major oil companies warned they would not be able to deliver on some contracts for Canadian crude.
* Wall Street rebounded from early losses and closed higher on Friday after investors focused on the positive aspects of the April jobs report.
* Still, a bigger-than-expected drop in China’s imports and exports in April pointed to weak demand and raised concerns about the ability of the world’s second-largest economy to sustain its recent recovery.
* In the two weeks to Friday, mixed economic data and uncertainty about the path of future interest rate hikes had put a dampener on a stock market rally that saw the S&P gain about 14 percent from its February lows.
* A Reuters survey following the jobs report showed Wall Street’s top banks have all but abandoned any expectation that the Fed will raise rates in June. Most now see the U.S. central bank’s next rate hike coming in September.
* Bank of Minneapolis Fed President Neel Kashkari will speak at 1:00 p.m. ET (1700 GMT) in Minnesota.
* Baidu shares were down 4.6 percent at $164 in premarket trading after Chinese regulators asked the search engine company to rein in paid-for advertisements following the death of a student who had sought treatment for cancer via the website.
* Lending Club fell 15.6 percent to $5.99 after Renaud Laplanche resigned as CEO and chairman following a board review.
* Freeport-McMoRan fell 0.3 percent to $11.75 after the company said it would sell its interest in a copper project in the Democratic Republic of Congo for $2.7 billion.
Futures snapshot at 7:38 a.m. ET:
* S&P 500 e-minis were up 5.75 points, or 0.28 percent, with 172,005 contracts traded.
* Nasdaq 100 e-minis were up 13.5 points, or 0.31 percent, on volume of 22,857 contracts.
* Dow e-minis were up 46 points, or 0.26 percent, with 24,734 contracts changing hands. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Ted Kerr)