US futures mixed before shortened trading session
NEW YORK (AP) -- U.S. stock futures rose ahead of a shortened trading session for the Independence Day holiday.
Discouraging manufacturing data out of both China and the U.S. this week increased speculation Tuesday that policy makers may make another attempt to stimulate the economy and keep a nascent recovery moving forward.
Also, automakers are reporting sales numbers for June.
Dow Jones industrial average futures rose a point to 12,777. Standard & Poor's 500 futures added 0.90 point to 1,358.50 and Nasdaq futures tacked on 4.5 points to 2,618.75.
Chrysler beat most industry expectations with sales up 20 percent on very strong demand for the best-selling the Ram pickup. Sales of the Fiat 500 small car more than doubled compared with the same period last year.
In the wake of poor manufacturing data from China and the U.S., the Commerce Department reports on U.S. factory orders for May. Economists surveyed by FactSet predict factory orders were flat. That report is scheduled for release at 10 a.m. Eastern.
Markets overseas rose sharply on a growing belief that central banks will act to boost growth, given the recent news on manufacturing.
China reported over the weekend that manufacturing grew in June by its slowest pace in seven months. On Monday, the U.S. reported that manufacturing shrank in June for the first time in nearly three years, adding to signs that economic growth is weakening.
Industrial stocks were mixed in premarket trading after a big sell-off Monday.
The U.S. stock markets close at 1 p.m. Eastern -- three hours earlier than normal.
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