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Futures Rise as New Quarter Kicks Off

The Associated Press

NEW YORK -- U.S. stock futures were pointing to a higher open as investors await data on the manufacturing and housing industries.

Futures were higher after gains in European markets, which rose after upbeat reports on manufacturing activity in both Britain and the 16 countries that make up the eurozone.

Investors in the U.S. will get a reading on manufacturing activity in the U.S. Wednesday, as well as a report on pending home sales in May.

As the third quarter begins, investors want to see more evidence that the economy is on track for a turnaround in the second half of the year.

Dow Jones Industrial Average futures were up 54 to 8,448. S&P 500 index futures were up 6 to 922, and Nasdaq 100 index futures are up 12 to 1,488.