US stock futures up ahead of manufacturing data

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Associated Press

Posted on July 1, 2013 at 6:01 AM

Updated Monday, Jul 1 at 6:02 AM

NEW YORK (AP) — U.S. stock futures are rising ahead of new data on manufacturing and construction.

Dow Jones industrial futures are up 76 points to 14,900. S&P futures have added 7.2 points to 1,606.50. Nasdaq futures are up 17.25 points to 2,918.50.

Economists say that manufacturing picked up in June following the first contraction in six months. The Institute for Supply Management releases its manufacturing index at 10 a.m. EDT Monday.

Construction is also expected to have jumped in May due to a rebounding housing sector. The Commerce Department report will be released at 10 a.m. as well.

Global markets are rising as well despite signs that China's economy is slowing.

China's manufacturing weakened again in June amid a credit crunch and slower U.S. and European orders, according to HSBC's purchasing managers' index.

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