Stock index futures were mostly unchanged on Friday as upbeat labor market data earlier this week fed investor optimism about the upcoming February payrolls report.

* Reports showing robust private-sector hiring and an unexpectedly sharp decline in jobless claims have reinforced confidence that the report later Friday will be strong. Bets on big gains in payrolls pushed Wall Street to its best one-day rally in three months on Thursday despite weak volume.

* The report, due at 8:30 a.m. EST, was expected to show 185,000 jobs added in February, a nine-month high, while the unemployment rate was seen rising to 9.1 percent from 9 percent. In January, 36,000 jobs were added.

* The ongoing strife in Libya and its impact on oil prices will be another focus for investors as fighting intensified and rebels advanced toward a major oil terminal. U.S. April crude futures rose 0.8 percent, while Brent crude futures was up 0.6 percent following a pause in recent gains on Thursday.

* S&P 500 futures were up 0.2 point and about even with 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 13 points, and Nasdaq 100 futures slipped 1.5 points.

* Data on January durable goods and factory orders will be released at 10 a.m. EST, with factory orders seen rising 2 percent. There are no major companies scheduled to report quarterly results on Friday.

* U.S. banks received a proposal from state attorneys general and several federal agencies that could require them to reduce loan balances for troubled mortgage borrowers, the Wall Street Journal reported, citing sources.

* Dow component Wal-Mart Stores Inc raised its annual dividend by 21 percent late Thursday.

* A federal judge said late Thursday he would approve the bankruptcy plan for the Old GM, wrapping up one of the most complex Chapter 11 cases in U.S. history and paving the way for a distribution of General Motors Co stock and warrants to creditors.

* Optimism ahead of the payrolls report gave Wall Street its second straight day of gains on Thursday, though the put-to-call ratio in the options market didn't change much as traders continued to hedge against a potential drop in the market.

(Editing by Jeffrey Benkoe)

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