Stocks are climbing today as the first of several economic reports showed improving growth in China and Europe. More numbers follow in the United States this morning.
S&P 500 futures rose almost 1 percent, while European indexes are down slightly following gains of 1.5 percent to 2 percent yesterday. Asian markets also remained strong in the overnight session, with Tokyo surging 3 percent and Shanghai up more than 1 percent.
Markets were closed in the United States yesterday in observance of Labor Day, but China and Europe both released purchasing managers indexes that showed better-than-expected manufacturing activity. Attention now turns to the Institute of Supply Management’s key factory report at 10 a.m. ET, which significantly outpaced forecasts last month.
— Option Monster