US STOCKS-Wall St set to open higher on China factory data

Wed Nov 11, 2009 1:49pm GMT
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* Chinese factory output growth surges to 19-month high

* US bond market, government offices closed for holiday

* Futures up: S&P 7 pts, Dow 52 pts, Nasdaq 16 pts

* For up-to-the-minute market news, click [STXNEWS/US] (Updates prices, adds details)

By Angela Moon

NEW YORK, Nov 11 (Reuters) - Wall Street was set to open higher on Wednesday as better-than-expected economic data from China and comments from Federal Reserve officials on continued low interest rates buoyed investors' appetite for riskier investments.

Chinese factory output growth surged to a 19-month high in October, signaling that the world's third-largest economy has firmly put the worst of the global economic crisis behind it. For details, see [ID:nPEK212006]

Top Fed officials said in a string of speeches on Tuesday that high unemployment and reluctant consumers would likely make a U.S. economic recovery weak and erratic, underscoring belief that economic stimulus will remain intact. [ID:nN10315173]  Continued...

 
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