Stock futures rebound; Ford, Microsoft on tap LON

Stock futures rebound ; Ford, Microsoft on tap
LONDON (MarketWatch) — U.S. stock futures pointed to a recovery on Wall Street on Thursday, spurred by encouraging Chinese manufacturing data, as investors prepared for earnings releases from Ford Motor Co., Microsoft Corp. and many others.

Futures for the Dow Jones Industrial Average (CBE JZ3) climbed 42 points, or 0.3%, to 15,393, while those for the S&P 500 index (GLC:SPZ3) gained 5.40 points, or 0.3%, to 1,747.20. Futures for the Nasdaq 100 index (GLC:NDZ3) gained 10 points, or 0.3%, to 3,350.00.

The positive moves materialized after HSBC’s “flash” reading of October’s China manufacturing Purchasing Managers’ Index (PMI) showed a rise to a seven-month high of 50.9, up from September’s final reading of 50.2. A level above 50 signals expansion. The upbeat data also helped lift stock markets in Europe, while Asian markets closed mixed.

The gains also came on the back of a weaker session on Wednesday, when the S&P 500 index (SNC:SPX) fell from a record closing level, as investors assessed mixed results from U.S. corporations.

Earnings look set to be a highlight on Thursday, with results from Ford (NYSE:F) , Dow component Microsoft (NASDAQ:MSFT) and Amazon.com Inc (NASDAQ:AMZN) likely to keep investors busy.

Ahead of the open, Ford is projected to report third-quarter earnings of 38 cents a share, according to a consensus survey by Thomson Reuters.

Investors are expected to focus on Ford management’s comments on the timing of recovery in the EU, said analysts at Stifel Nicolaus. “September EU sales rose year-on-year, and we note that continued stabilization appears to be buoyed by Germany and the U.K. sales in recent months,” James Albertine said in a report.

For Microsoft, reporting after the closing bell, analysts forecast earnings of 54 cents a share in the first quarter. Amazon, also out after the market closes, is expected to post a loss of 10 cents a share in the third quarter. http://www.marketwatch.com/story/stock-future...beforebell