* Futures up: Dow 31 pts, S&P 4 pts, Nasdaq 12 pts
By Yashaswini Swamynathan
Aug 8 (Reuters) - U.S. stock index futures were higher on Monday after Friday’s robust payrolls data boosted optimism about economic growth.
* Wall Street notched its best day in a month on Friday following the report that showed strong gains in employment for the second straight month.
* The S&P 500 index and the Nasdaq closed at record highs.
* Futures on Monday were also helped by a 1.5 percent rise in oil prices after reports of renewed talks by some OPEC members to restrain output.
* Gold, a safe haven asset, fell to a one-week low, while the Japanese yen remained weak suggesting that the markets were in a risk-on mode.
* Although strong jobs data could encourage the Federal Reserve to raise interest rates, analysts have said the central bank may wait for more data before it makes the move.
* While traders priced in higher rate-hike chances in the near term, they do not expect the Fed to pull the trigger even until July next year, according to CME Group’s FedWatch tool.
* A better-than-expected corporate earnings season has helped fuel a rally in equities, with the S&P 500 notching nine record highs since July.
* Earnings of S&P 500 companies are expected to fall 2.6 percent in the quarter, compared with the 5 percent decline expected at the start of the season, according to Thomson Reuters I/B/E/S.
* Shares of Mattress Firm more than doubled to $62.86 in thin premarket trading after Steinhoff International agreed to buy the company.
* Tesla was off 1.2 percent to $227.22 after the company said costs for its Gigafactory may exceed expectations and disclosed $1.1 billion in quarterly cash needs.
Futures snapshot at 7:12 a.m. ET:
* Dow e-minis contracts were up 31 points, or 0.17 percent, with 14,099 contracts changing hands.
* S&P 500 e-minis were up 4 points, or 0.18 percent, with 98,634 contracts traded.
* Nasdaq 100 e-minis were up 12 points, or 0.25 percent, on volume of 12,091 contracts.
Reporting by Yashaswini Swamynathan in Bengaluru