US stock futures rise after Friday’s stock fall

June 3, 2013 11:49 am

US stock futures forecast a higher open today despite Chinese data showing uncertainty over the growth of the country’s economy. Before market open Dow Jones Industrial Average futures pointed to a 0.48% raise, S&P 500 futures suggested 0.40% increase and NASDAQ futures show 0.32% climb.

Earlier today market sentiment improved in the Eurozone after data showed that May’s manufacturing PMI climbed to 48.3 from 47.8 in April.

In corporate news MannKind said it finished a clinical trial of Afrezza inhaler for patients with type I diabetes waiting on result reports. Their shares are up to an active change according to analysts. Company’s pre-market price per share surged 3.15%.

In financial sector, Bank of America added 0.15% as New York court is considering company’s $8.5 billion settlement with mortgage-bond investors.

Tech sector was shaken by reports that Apple is accused by the US of being a part of a conspiracy with publishers to fix prices of e-books. However, the company added 0.10% to share price in the pre-market race.

Other stocks to watch during the day are the ones of Cracker Barrel, Patheon, ABM Industries and Cantel Medical as they are expecting to post earning reports.

Later today the Institute of Supply Management will release data on US manufacturing activity.

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