* May payroll report shows pace of hiring remains solid
* Indexes look to extend recent rally, on track for strong week
* BofA could pay more than $12 bln to settle probes: WSJ
* Futures up: Dow 52 pts, S&P 3.5 pts, Nasdaq 10 pts
(Updates with payroll report)
NEW YORK, June 6 (Reuters) - U.S. stock index futures pointed to a higher open on Wall Street Friday, indicating the market's advance to repeated records could be extended after the May payrolls report provided the latest confirmation that economic conditions were improving.
* About 217,000 jobs were added in May, slightly fewer than expected, while the unemployment rate held steady at 6.3 percent. With the report, the economy has recouped the 8.7 million jobs lost during the recession.
* While the report was modestly under forecasts, the bullish trend in the data could serve as a positive catalyst for a market that has been strong lately, though often notching only slight gains as investors search for reasons to keep buying.
* The S&P 500 has risen in nine of the past 11 sessions, gaining 3.6 percent over that period. It has ended at a record high five times in the past six sessions.
* S&P 500 futures rose 3.5 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 added 52 points and Nasdaq 100 futures rose 10 points.
* For the week, the Dow is up 0.7 percent, the S&P is up 0.9 percent and the Nasdaq is up 1.3 percent. Both the Dow and S&P are on track for a third straight weekly advance, while the Nasdaq is on track for its fourth.
* Still, those gains have largely come in thin trading. About 193,000 S&P 500 e-mini contracts traded hands as of 8:50 a.m. on Friday, on track for another day of tepid action.
* Hertz Global Holdings Inc fell 9.5 percent to $27.60 in premarket trading after the company said it would restate financial results for the past three years to correct accounting errors from 2011.
* Bank of America Corp dipped 3 cents to $15.40 before the bell a day after the Wall Street Journal reported that the bank could pay more than $12 billion to settle probes by the Justice Department and a number of states into its alleged handling of shoddy mortgages.
* Sources told Reuters that General Motors Co has dismissed several high-ranking executives, including at least one vice president and two directors, for their roles in the still-unfolding drama over deadly ignition switches in older GM cars. Shares of GM were up slightly in premarket trading.
* Novavax Inc was the Nasdaq's most active premarket mover, down 7.5 percent to $4.18 in heavy volume a day after a public offering of 25 million common shares was priced at a discount to its Thursday close.
(Editing by Bernadette Baum)