US futures up after a rocky start to the week

24-Oct-2012

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US stock futures head higher before latest housing data and on manufacturing report from China

NEW YORK (AP) — Stock futures are rising ahead of the latest U.S. housing data and on a report from China that could signal a recovery for the manufacturing sector of the world’s second largest economy.
Dow Jones industrial futures are up 43 points to 13,084. The broader S&P futures have gained 6 points to 1,412.80. Nasdaq futures are up 10.75 points to 2,671.25.
A preliminary version of HSBC’s monthly purchasing managers’ index for China rose to a three-month high. The numbers still point to a contraction, but they’re an improvement from numbers last month. A report last week suggested an uptick in retail sales and investment, too.
The U.S. Commerce Department posts the latest data on new home sales at 10 a.m. Eastern and economists expect to see more evidence of a steadily improving market.

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