US Stock Futures Higher After Strong Economic Data By China And New Global Rules For Banks

US stock futures are signaling towards a higher start this week, following China's healthy economic data and new global rules for banks on capital requirements raised demand for risky investments. Futures on the Dow Jones Industrial Average surged 87 points to 10,480 and Nasdaq 100 futures gained 14 points to 1,904. S&P 500 futures is at 1,109.50. Mike Lenhoff, chief strategist at Brewin Dolphin in London said, "We've had some really good news out of China for a start." Lenhoff also mentioned, "It almost looks as if the loss of recovery momentum in China is running its course. That's a very powerful boost to sentiment and the markets are responding." Lenhoff added, "I think also what really has helped sentiment has been Basel III and this fairly lengthy phase-in period for the capital requirements which will not burden the banks.” China has reported a stronger-than-expected economic data. It has posted a rise of 13.9% in August industrial production. The blue-chip Dow index gained 0.46% to close higher on Friday for a second straight week. The US federal budget data for August is all set for release this afternoon. Hertz Global Holdings Inc. HTZ has increased its offer for Dollar Thrifty Automotive Group Inc to $50 per share DTG. Genzyme Corp GENZ is also selling its genetics unit for $925 million in cash to Laboratory Corp of America Holdings LH. On Sunday, global regulators agreed to new rules to strengthen the current capital requirements for banks in Basel, Switzerland. The euro gained about 0.8028% against US Dollar. The dollar index (DXY) lost about 0.57%. Crude-oil futures gained $0.68 to $77.13 per barrel in electronic trading on Globex. Read more from Benzinga's Markets.