Stock futures rose on Tuesday, the first day of trading this year, as indexes rallied throughout the world. Commodities also rose sharply, with oil futures up more than $2 in early trading.
Economic data out of China helped put a spring in the market’s step, as China’s non-manufacturing purchasing manager’s index jumped. China’s manufacturing PMI also showed strength when it was released on Jan. 1. In the U.S., ISM data is due at 10 a.m. and the FOMC is expected to release minutes at 2 p.m.
The Hang Seng in Hong Kong was up about 2%. Some European indexes also rose, with the FTSE 100 up 1%.
Dow futures rose 182 points to 12,332; S&P 500 futures rose 18.9 points to 1,271.5.
BP (BP) was up 2.3% in pre-market trading after the oil giant is demanding that Halliburton (HAL) pay the full cost of the 2010 Gulf oil spill cleanup.
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