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Stocks - U.S. Futures Jump as China Manufacturing Sector Rebounds

Investing.com - U.S. futures rose on Monday as fresh Chinese data suggested the world's second-largest economy is rebounding, easing concern about a global slowdown.

China’s Caixin manufacturing purchasing managers' index, which gauges private-sector activity, increased the most in a month since 2012, as a combination of fiscal stimulus measures seemed to take effect.

Dow futures rose 177 points or 0.7% by 6:50 AM ET (10:50 GMT), while S&P 500 futures gained 17 points or 0.6% and tech-heavy Nasdaq 100 futures was up 66 points or 0.9%.

Meanwhile, trade talk progress between the U.S. and China also helped lift sentiment. China has said it will extend its suspension of tariffs on U.S.-made autos and include the opioid fentanyl in a list of controlled substances, in a fresh indication of the unwillingness of both sides to rush to an escalation of the conflict.

Vice Premier Liu He, China’s trade envoy, is expected to resume talks in Washington this week.

Semiconductor companies were among the top gainers in premarket trading, with Advanced Micro Devices Inc (NASDAQ:AMD) up 2.7% and Micron (NASDAQ:MU) gaining 2.5%.

Netflix (NASDAQ:NFLX) rose 1.2%, while Tesla (NASDAQ:TSLA) was up 0.8% and Aurora Cannabis (NYSE:ACB) jumped 3.5%.

Elsewhere, Ryanair (NASDAQ:RYAAY) fell 4.6% as rival Easyjet blamed Brexit for a weak yearly outlook.

On the economic front, retail sales figures for February come out at 8:30 AM ET (12:30 GMT). Later, the U.S. Institute of Supply Management will release its monthly survey on manufacturing sector activity at 10:00AM ET (14:00 GMT).

In commodities, gold futures fell 0.3% to $1,294.55 a troy ounce, while crude oil jumped 0.8% to a fresh 2019 high of $60.88. The U.S. dollar index, which measures the greenback against a basket of six major currencies, slipped 0.2% to 96.688.

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