Stocks snapped a two-day decline, U.S. index futures rose and copper rallied after China’s manufacturing and Australia’s economy grew faster than economists estimated.
China’s purchasing managers’ index rose to 51.7 from 51.2, exceeding forecasts, while Australia’s economy expanded 1.2 percent from the first quarter, according to government data released today.
The MSCI World Index climbed 0.8 percent at 7:25 a.m. in New York. Futures on the Standard & Poor’s 500 Index jumped 1.1 percent. Copper increased 1.6 percent and nickel advanced 2.4 percent. The Swiss franc ended a two-day advance against the euro, and the Australian dollar strengthened against all of its 16 major counterparts.