Futures rise sharply on steady Fed hand

NEW YORK (AP) — Stock futures are rising sharply on renewed investor confidence in the Fed’s commitment to an aggressive monetary policy, as well as positive manufacturing data from China.

Another banner month is expected from automakers as well, who on Thursday report sales for July.

Dow Jones industrial futures are up 106 points to 15,539. S&P futures have added 11.3 points to 1,691.80. Nasdaq futures are up 19.25 points to 3,102.25.

Global markets rose early after the U.S. Federal Reserve hinted that it might need to maintain its $85 billion a month in bond purchases, which have kept borrowing rates very low.

And while manufacturing in China remains week, data released Thursday suggests that an economic slowdown in the world’s second-largest economy may be easing.

The Labor Department releases weekly jobs numbers Thursday.

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