American stock futures surge ahead of manufacturing PMI
On Monday, Wall Street futures pointed to a slightly higher start ahead of data on activity in the American manufacturing sector as well as appearances from Federal Reserve officials and as traders looked ahead to a busy week in earnings.
The blue-chip Dow futures earned 0.42%, the S&P 500 futures ascended 0.46%, while the tech-heavy Nasdaq 100 futures acquired 0.61%.
In company news, AT&T Inc officially confirmed over the weekend that it agreed to purchase Time Warner Inc for about $85.4 billion in an attempt to create a telecom-media giant. It’s expected to become the greatest acquisition of 2016.
In America, up to 80% of the 116 S&P 500 companies, which had reported as of last Friday had already beat revenue estimates on 8.1% surge, compared to 70% during the second quarter.
Meanwhile, the greenback stood flat against other key currencies, as sustained expectations for a 2016 American rate lift kept backing the greenback.