U.S. futures higher on China data, waning Syria fears; Dow Jones up 0.5%
Investing.com - U.S. stock futures pointed to a higher open on Tuesday, as appetite for riskier assets was fuelled amid indications China's economy is strengthening and as concerns over a U.S. military strike against Syria waned.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.5% gain, S&P 500 futures signaled a 0.6% rise, while the Nasdaq 100 futures indicated a 0.6% advance.
Market sentiment was boosted after reports on industrial production and retail sales from China added to signs that the world's second largest economy is recovering from a slowdown.
Data released on Tuesday showed that Chinese retail sales rose unexpectedly in August, while Chinese industrial production rose more than forecast last month.
Investor confidence was also bolstered after U.S. President Barack Obama said he would put plans for a military strike against Syria on hold if the country agrees to a Russian proposal to place its chemical weapons under international control.
Obama will address the U.S. public on Syria on Tuesday after U.S markets have closed.
Gold futures and oil prices pulled back on the potential aversion of a strike in Syria.
Meanwhile, Apple was expected to be active, with the tech giant hosting a media event at its headquarters in Cupertino, California, where it is expected to unveil the highly-anticipated iPhone 5s and iPhone 5c.
McDonald's was also expected to be in focus, with the fast-food giant expected to post its same-store sales for August ahead of the opening bell.
Across the Atlantic, European stock markets rallied. The EURO STOXX 50 jumped 1.45%, France's CAC 40 rose 1.4%, Germany's DAX surged 1.7%, while Britain's FTSE 100 advanced 0.8%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.8%, while Japan's Nikkei 225 Index surged 1.5%.
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