"There hasn't really been any good news associated with
jobs in quite a while. At this point, people are just looking
at trends. Can it get worse or is there at least stability at
these reasonably weak numbers," added Meckler.
S&P 500 futures <SPc1> rose 12.6 points and were above fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures <DJc1> climbed
75 points, and Nasdaq 100 futures <NDc1> gained 22.75 points.
The Institute for Supply Management releases its August
manufacturing index at 10 a.m. EDT [1400 GMT]. Economists look
for a reading of 53.0 versus 55.5 in July.
Also at 10 a.m. EDT [1400 GMT], the Commerce Department
releases July construction spending. Economists forecast a fall
of 0.5 percent, compared with an 0.1 percent rise in the prior
month.
Burger King Holdings Inc <BKC.N>, the No. 2 U.S. hamburger
chain, may put itself up for sale and has already held talks
with potential buyers, a source said. [ID:nSGE68006Y]
Its shares jumped nearly 20 percent to $19.70 premarket.
Apple Inc <AAPL.O> is expected to show off a snazzier line
of iPods on Wednesday and may also unveil plans to reinvigorate
its long-neglected TV line. Shares rose 1.1 percent to $245.86
premarket.
Genzyme Corp <GENZ.O> Chief Executive Henri Termeer told
Reuters he is willing to sell the company he built up over 25
years, but not for $69 a share. [ID:nN31263373]
European shares advanced more than 1 percent to a near
two-week high on Wednesday, lifted by the China data and
corporate takeover talk in the market. [ID:nLDE67416G]
Asian stocks rose as investors cheered the China and
Australian reports, which halted the yen's advance towards a
15-year peak against the dollar. The Nikkei index ended up 1.2
percent. [ID:nSGE680044]
(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)