US stock futures rise on China manufacturing gains

US stock futures rise on upbeat China manufacturing report, ahead of US consumer price data

Associated Press
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FILE- In this Thursday, Dec. 6, 2012, file photo, Trader Fred DeMarco, center works on the floor of the New York Stock Exchange. World stock markets swung higher Friday Dec. 14, 2012 after a survey showed an improvement in China's manufacturing, offsetting gloom from a sharp drop in Japanese business confidence. (AP Photo/Richard Drew, File)

NEW YORK (AP) -- U.S. stock futures are rising after a strong Chinese manufacturing survey and ahead of reports on U.S. consumer prices and industrial production.

Dow Jones industrial futures are up 40 points to 13,197. The broader S&P 500 futures are up 4 points to 1,422. Nasdaq futures are up 3 points to 2,655.

The improvement in Chinese manufacturing activity suggests global consumer spending may be recovering from a weak patch this year. China's manufacturing activity rose to a 14-month high in December.

The U.S. consumer prices report is due at 8:30 a.m. Eastern and the industrial production report at 9:15 a.m. Economists predict prices fell 0.2 percent in November as lower gasoline prices offset higher food costs.

European markets were less upbeat after Standard & Poor's lowered its credit outlook on Britain.

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