NEW YORK (AP) — Encouraging news from Europe and China sent stock futures higher despite another round of bleak earnings reports from U.S. retailers.
Dow Jones industrial futures are up 51 points to 14,898. S&P 500 futures added 7.5 points to 1,644. Nasdaq futures rose 19.5 points to 3,082.
HSBC Corp. said Thursday that the preliminary version of its monthly purchasing managers' index for China rose to 50.1 in August from July's 47.7. Numbers above 50 indicate an expansion.
And a monthly composite report in Europe measuring the strength of the manufacturing and services sectors hit its highest level since June 2011.
Major indexes in German, France and China bounced higher on the news, and U.S. stock futures followed.
In the U.S, however, for the second consecutive week, retailers are taking a pounding as quarterly earnings reports reveal meager traffic, falling sales and prices slashed in an attempt to lure elusive shoppers back into stores.
Sears and Abercrombie & Fitch, like other retailers, are seeing their shares plunge on terrible earnings reports.
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