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U.S. stock index futures were higher, suggesting Wall Street would rebound Wednesday. Dow Jones industrial futures were up 45 points, or 0.5 percent, at 8,439, while S&P 500 futures were up 6 points, or 0.7 percent, at 921.50.
Investors in China were heartened that brokerage CLSA Asia-Pacific
Markets said its purchasing managers index rose to 51.8 from May's
51.2. Numbers above 50 show activity expanding. The state-sanctioned
China Federation of Logistics and Purchasing said its own PMI edged
up slightly to 53.2 from May's 53.1. In Japan, business executives are only slightly less pessimistic than they were three months ago. The Bank of Japan's quarterly tankan survey showed that the sentiment index at major manufacturers rose to minus 48 from minus 58 in March. The figure represents the percentage of companies saying business conditions are good minus those saying they are bad. Wall Street fell Tuesday amid disappointment about a decline in consumer confidence following big jumps in April and May, as measured by a private group called the Conference Board. The Dow fell 82.38, or 1 percent, to 8,447.00, while the S&P 500 index fell 7.91, or 0.9 percent, to 919.32. The Nasdaq composite index fell 9.02, or 0.5 percent, to 1,835.04. Oil rose above $71 a barrel as a drop in U.S. crude inventories suggested demand may be picking up. Benchmark crude for August delivery rose $1.21 to $71.09 a barrel in electronic trading on the New York Mercantile Exchange. In currencies, the dollar rose to 96.78 yen from 96.34, while the euro rose to $1.4065.
[Associated
Press;
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