Investing.com - U.S. stock futures pointed to a higher open on Monday, as markets eyed the release of U.S. data amid ongoing uncertainty over the future of the Federal Reserve's stimulus program.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.51% gain, S&P 500 futures signaled a 0.42% rise, while the Nasdaq 100 futures indicated a 0.60% increase.
Markets were jittery amid expectations that the Fed will soon start tapering its USD85 billion-a-month bond buying program. Investors were awaiting Friday's U.S. nonfarm payrolls data, with good data set to bolster the dollar further.
Investors also remained cautious after the release of mixed Chinese manufacturing reports.
China's official manufacturing purchasing managers' index came in at 50.1 in June, above expectations for 50.0, following a reading of 50.8 in May.
Separately, China's HSBC manufacturing PMI fell to a nine-month low of 48.2 in June, down from a preliminary reading of 48.3 and further below the 50 level that separates contraction form expansion.
Pharmaceutical companies were likely to be in focus, after Onyx Pharmaceuticals confirmed on Sunday it had rejected a purchase offer from Amgen, the world's biggest biotech company.
Onyx shares skyrocketed 47.43% in pre-market trade.
Also in company news, private equity firms Blackstone and Lion Capital were said to have teamed up to make a formal bid worth more than GBP1 billion for Lucozade and Ribena, the two soft drink brands put up for sale by drugmaker GlaxoSmithKline.
In the tech sector, BlackBerry was expected to be active, as shares plunged 3.82% after the smartphone maker disclosed disappointing demand for a touch-screen device viewed as critical to attracting younger users.
Separately, Sony said its sold almost USD13 million in video and medical equipment to dealers in Dubai that resold the gear in Iran. The recipients reportedly included groups under U.S. sanctions.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.57%, France's CAC 40 advanced 0.61%, Germany's DAX rose 0.35%, while Britain's FTSE 100 rallied 0.85%.
During the Asian trading session, Hong Kong's Hang Seng Index jumped 1.78%, while Japan's Nikkei 225 Index rallied 1.28%.
Later in the day, the Institute of Supply Management was to produce a report on manufacturing activity.
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