Stock futures inch up; China data, ISM in spotligh
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Posted On: 06/02/2014 8:54:26 AM
Stock futures inch up; China data, ISM in spotlight
China PMI beats forecasts, inspiring gains in overseas stocks
MADRID (MarketWatch) — Stock futures moved marginally higher on Monday, with upbeat Chinese manufacturing data giving overseas markets a lift, and as an important week for U.S. data kicks off with an Institute for Supply Management survey due later.
Futures for the Dow Jones Industrial Average (CBE
JM4) rose 17 points to 16,721, while those for the S&P 500 index (GLC:SPM4) inched up 1 point to 1,922.50. Futures for the Nasdaq-100 index (GLC:NDM4) gained 0.75 point to 3,736.25.
At 9:45 a.m. Eastern Time, the Markit purchasing managers index for May will be released in a busy week for global PMI data, but the more closely watched data will come 15 minutes later, when the Institute for Supply Management publishes its May survey. The ISM index, which gauges the confidence of manufacturing executives, is seen edging up to a healthy 55.8% in May from 54.9% in the prior month. Any number above 50% signals expansion.
Investors will have to wait until Friday to get the key nonfarm-payrolls number, which is expected to show a net gain of at least 200,000 jobs. That would mark the fourth-straight month that hiring has topped 200,000.
The month of May for Wall Street closed with the biggest gain in three months, but that was made on the lowest average volume since August 2013. Volatility, as measured by the CBOE VIX index (MDE:VIX) , is at levels not seen since March 2013. On Friday, the S&P 500 (SNC:SPX) ended at a record level for the 14th time this year and the Dow industrials (DJI JIA) logged its fifth record close this year. http://www.marketwatch.com/story/stock-future...beforebell
China PMI beats forecasts, inspiring gains in overseas stocks
MADRID (MarketWatch) — Stock futures moved marginally higher on Monday, with upbeat Chinese manufacturing data giving overseas markets a lift, and as an important week for U.S. data kicks off with an Institute for Supply Management survey due later.
Futures for the Dow Jones Industrial Average (CBE
JM4) rose 17 points to 16,721, while those for the S&P 500 index (GLC:SPM4) inched up 1 point to 1,922.50. Futures for the Nasdaq-100 index (GLC:NDM4) gained 0.75 point to 3,736.25. At 9:45 a.m. Eastern Time, the Markit purchasing managers index for May will be released in a busy week for global PMI data, but the more closely watched data will come 15 minutes later, when the Institute for Supply Management publishes its May survey. The ISM index, which gauges the confidence of manufacturing executives, is seen edging up to a healthy 55.8% in May from 54.9% in the prior month. Any number above 50% signals expansion.
Investors will have to wait until Friday to get the key nonfarm-payrolls number, which is expected to show a net gain of at least 200,000 jobs. That would mark the fourth-straight month that hiring has topped 200,000.
The month of May for Wall Street closed with the biggest gain in three months, but that was made on the lowest average volume since August 2013. Volatility, as measured by the CBOE VIX index (MDE:VIX) , is at levels not seen since March 2013. On Friday, the S&P 500 (SNC:SPX) ended at a record level for the 14th time this year and the Dow industrials (DJI
JIA) logged its fifth record close this year. http://www.marketwatch.com/story/stock-future...beforebell
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