US Stock Futures Signal Higher Start On Wall Street

US stock futures are higher this morning. Futures for the Dow Jones Industrial Average surged 119 points to 10,966.00 and S&P 500 index futures rose 14.30 points to 1,137.60. Nasdaq 100 futures gained 25.00 points to 2,069.00. US stocks closed higher on Monday, with the Dow Jones Industrial Average gaining 0.34% to 10,854.65, the S&P 500 index rising 0.03% to 1,123.82 and the Nasdaq 100 index surging 0.15% to 2,345.38. Data on new home sales for July will be released at 10 a.m. ET. H.J. Heinz Company HNZ is estimated to report its FQ1 earnings at $0.76 per share on revenue of $2.78 billion. Williams-Sonoma Inc WSM is expected to report its Q2 EPS at $0.36 on revenue of $823.97 million. Pacific Sunwear of California Inc PSUN is expected to post a Q2 loss at $0.24 per share on revenue of $211.80 million. Medtronic Inc MDT is projected to report its Q1 EPS at $0.79 on revenue of $3.98 billion. La-Z-Boy Incorporated LZB is projected to report its FQ1 EPS at $0.06 on revenue of $278.75 million. UBS AG UBS announced its plans to cut about 3,500 jobs, or more than 5% of its workforce, to reduce costs. The Markit euro-zone PMI for the manufacturing sector dropped to 49.7, versus a reading of 50.4 in July. European markets were higher today. The STOXX Europe 600 Index gained 1.01%, London's FTSE 100 Index moved up 1.22%, French CAC 40 index rose 1.47% and German DAX 30 index gained 1.45%. Asian markets ended higher, with Japan's Nikkei Stock Average rising 1.2156%, Australia's S&P/ASX 200 moving up 2.14% and China's Shanghai Composite gaining 1.52%. Hong Kong's Hang Seng Index rose 1.9945% and India's Sensex climbed 0.96%. HSBC's preliminary purchasing managers index for China's manufacturing sector surged to 49.8 in August, versus 49.3 in July. The dollar index (DXY) dropped 0.68% to 73.64, from 74.063 in North American trade late Monday. The euro surged 0.84% versus the greenback to trade at $1.4479, versus $1.4379 in late action Monday.