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US Stock Futures Follow Europe, Asia Lower on Lackluster China Manufacturing Data

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U.S. equities futures were in the red Wednesday, echoing sentiment in Asia and Europe as both output and new orders fell slightly in China in May.

At home, the final PMI manufacturing index, out at 9:45 a.m. E.T. is expected to have edged down to 50.5 for May compared to April, but unchanged from the flash reading. The consensus range is between 50.4 and 51.1, according to data compiled by Econoday.

At 10:00 a.m., the ISM manufacturing index is seen lower at 50.6 for May from 50.8 in April, in the consensus range between 49.9 and 51.0. Also at 10:00 a.m., data is expected to show that construction spending in April rose 0.6% compared to the 0.3% increase in March and in the consensus range between a 0.1% increase and a 0.9% increase.

In equities, Michael Kors ( KORS ) shares rose over 8% in pre-market trade after the fashion company's fiscal Q4 results exceeded estimates. Meanwhile, Demandware ( DWRE ) shares surged over 56% after Salesforce.com ( CRM ) agreed to acquire the firm for $75 per share or $2.8 billion.

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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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