US Stock Futures Reflect A Rally in Stocks Today

US stock futures surged sharply today after China declared that it is lifting curbs against its tightly-controlled currency. This move by the Chinese government could boost US exporters and manufacturers. China has so far kept the yuan at an artificially low price against the US dollar to bolster exports. However, weak currency has made imported goods costly for consumers. While futures on the Dow Jones Industrial Average shot up 141 points to 10514, those on the S&P 500 climbed 17.4 points to 1127.6. Nasdaq 100 futures added 29.5 points to 1939. European markets are also up today in midmorning trade, with metals producers such as Rio Tinto RIO lifting the Stoxx Europe 600 index by 1.3%. Britain's FTSE 100 has also climbed 1.1%. Asia’s markets also ended their strongly, with Japan's Nikkei stock average jumping 2.4% and Hong Kong's Hang Seng surging 3.1%. Read more from Benzinga's Markets.