It looks like the trading week could start on a positive note.
U.S. stock futures were firm Monday morning, following a sharp fall Friday. The major indexes were pushing up by roughly 0.3%.
The market mood was bolstered by new data from HSBC showing China’s manufacturing sector expanded by the fastest pace in six-months.
But with few major corporate or economic reports on tap, trading volumes could be light.
U.S. stocks fell Friday, with investors facing further uncertainty about the U.S. Federal Reserve and a possible government shutdown in October. However, they finished up for the week, after gaining on the Federal Reserve’s surprise decision to maintain the pace of its massive bond-buying program.
European markets were steady in morning trading, with stocks edging into positive territory as eurozone purchasing managers reported slightly stronger than expected growth in manufacturing and services.
German chancellor Angela Merkel’s big victory in Sunday’s elections was also helping sentiment. Voters backed her handling of the euro zone crisis and Europe’s biggest economy. The DAX index, which has gained 14% so far this year, was up 0.2%.
Asian markets ended with mixed numbers Monday. The Shanghai Composite index rose by 1.3%, in part because of the positive manufacturing data. The Shanghai markets were back today from an extended holiday period.
Meanwhile, the Hang Seng in Hong Kong was closed in the morning because of Typhoon Usagi but trading resumed in the afternoon and the index dropped by 0.6%. The Tokyo Stock Exchange was closed for a holiday.
