Stocks Gain on Strong Economic Data

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.

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