News Column

U.S. Futures Rise on China Economic Data

October 18, 2013

Associated Press

trader nyse
A trader on the floor of the New York Stock Exchange Friday morning (Associated Press)

NEW YORK (AP) U.S. stock futures are moving higher a day after the Standard & Poor's 500 hit a record high, with developments overseas rather than in Washington driving markets.

There are also some strong quarterly earnings reports from major U.S. corporations Friday.

Dow Jones industrial futures are up 19 points to 15,315. S&P futures have gained 2.3 points to 1,730.10. Nasdaq futures are up 14 points to 3,315.

China's economy appears to be rebounding, which is driving global markets higher in early trading.

The world's second-largest economy grew by 7.8 percent in the three months ending in September, which may give Beijing more room to allow for more steady and sustainable growth going forward.

In the U.S., both General Electric and Morgan Stanley topped Wall Street expectations for the third quarter.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Original headline: US futures higher on economic data out of China

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Source: Copyright 2013 The Associated Press. All rights reserved.

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