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US Stock Futures Follow China, Europe Higher

U.S. equities futures were sharply higher on Tuesday following the Labor Day weekend in the wake of gains in the Chinese stock market and in Europe.

In China, weak trade data for August spurred hopes for additional stimulus from the government.

There were no major domestic data on tap Tuesday but the week, will among others, bring the Labor Department's Job Openings and Labor Turnover survey on Tuesday, import and export prices on Thursday and Producer Prices indicator on Friday. The data will figure into the Federal Open Market Committee's decision next week whether to raise interest rates.

In equities, Teco Energy ( TE ) surged 23% before the bell after agreement to be acquired by TSX-listed energy company Emera Inc for $27.55 per share or $10.4 billion in cash. Apple ( AAPL ) was also higher nearly 2%. The iPhone-maker will hold an event on Tuesday where it is expected to present new products.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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