Point Roberts, WA, USA
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NEW YORK (Reuters) - Stock index futures rose on Tuesday as investors returned to the market optimistic about the global economy after Wall Street ended flat in 2011.
* Global markets rallied including in Asia, where data showed improvement in Chinese manufacturing. European shares also rose, led by mining stocks after the Chinese data lifted hopes that demand would be strong for metals.
* The U.S. economy will be in focus, with data from the Institute for Supply Management (ISM) Index of National Factory Activity for December as well as November construction spending both due at 10 a.m. EST. The Federal Open Market Committee will release minutes from its December 13 meeting is due at 2 p.m. ET.
* November construction spending is expected to show a gain of 0.5 percent, versus 0.8 percent, according to a Reuters survey of economists. The ISM manufacturing index is forecast rising to 53.2 percent in December from 52.7 percent in the previous month.
* S&P 500 futures rose 19.4 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures jumped 205 points, and Nasdaq 100 futures advanced 38.5 points.
source: Futures jump on upbeat China data - Yahoo! News
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