NEW YORK (AP) — Stock futures are rising as signs of strong manufacturing growth in China is driving stocks higher worldwide.
China’s key reading on manufacturing activity jumped in September from August, relieving concerns that growth in the world’s second-largest economy is slowing down. China has been relied upon to pick up global demand as the U.S. economy remains sluggish.
Traders in the U.S. will get their own reading on domestic manufacturing activity later Friday. The Institute for Supply Management’s manufacturing index is expected to have dipped in September, but still indicate the sector is expanding.
Dow Jones industrial average futures are up 52, or 0.5 percent, at 10,775. S&P 500 futures are up 6, or 0.5 percent, at 1,143, while Nasdaq 100 futures are up 14, or 0.7 percent, at 2,009.
