US stocks look to start 3Q on high note

[July 01, 2009]  NEW YORK (AP) -- U.S. stock futures are pointing to a higher open as investors await data on the manufacturing and housing industries.

Futures are reflecting gains in European markets, which rose after upbeat reports on manufacturing activity in both Britain and the 16 countries that make up the euro-zone.

Later Wednesday morning, investors will get a reading on manufacturing activity in the U.S., 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 are up 54 to 8,448. Standard & Poor's 500 index futures are up 6 to 922, and Nasdaq 100 index futures are up 12 to 1,488.

[Associated Press; By SARA LEPRO]

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