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Apple Inc <AAPL.O> rose 2.7% premarket, rising
for the second day after its stock split took effect, as a
report said the iPhone maker has asked suppliers to make at
least 75 million 5G iPhones for later this year.
China's factory activity expanded at the fastest clip in nearly
a decade in August and eurozone output also stayed strong last
month, buoying global stocks.
ISM survey data at 10 a.m. ET (1400 GMT) is likely to show U.S.
manufacturing activity expanded slightly last month after
hitting a 1-1/2 year high in July.
Investors will keep a close watch on the monthly U.S. jobs
report due on Friday amid signs the labor market's recovery is
stalling.
Wall Street's main indexes recorded their fifth straight monthly
gain on Monday following massive central bank support, U.S.
government aid and demand for tech-focused stocks, even as the
S&P 500 and Dow finished the session lower in month-end trading.
The Nasdaq and S&P 500 have set consecutive new all-time highs
recently, but the blue-chip Dow is still about 4% below its
February high.
Aiding sentiment, Treasury Secretary Steven Mnuchin said late on
Monday the Trump administration and Senate Republicans have been
in regular contact over coronavirus relief measures and a new
bill will "hopefully" be unveiled next week.
At 6:12 a.m. ET, Dow e-minis <1YMcv1> were down 5 points, or
0.02%. S&P 500 e-minis <EScv1> were up 9.75 points, or 0.28% and
Nasdaq 100 e-minis <NQcv1> were up 120.75 points, or 1.00%.
Among stocks, Zoom Video Communications Inc <ZM.O> surged 26.4%
premarket after the video-conferencing platform raised its
annual revenue forecast by more than 30% as it converted more of
its huge free user base to paid subscriptions.
(Reporting by Medha Singh and Devik Jain in Bengaluru; Editing
by Shounak Dasgupta)
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