Stocks are set to add to yesterday's gains, after a solid showing overnight in Asia on the back of slightly better-than-expected Chinese economic data.
China's manufacturing purchasing manager's index (PMI) rose unexpectedly in September.
The PMI showed a reading of 49.8, while the estimates were to remain stable at 49.7, representing the first increase after three months of consecutive declines.
Chief market strategist at ADS Securities, Nour Eldeen Al-Hammoury, noted that the index remained below the 50 key level, but said the surprise figure had eased fears about a faster slowdown, keeping market sentiment positive.
Markets in the UK, France, Germany and Italy were all in positive territory amid mixed PMI manufacturing data for September.
The overall PMI figures for the Eurozone came in at 52.0, down from 52.3 in August, with any figure above 50 indicating expansion. France returned to growth, leaving only Greece in contraction. UK September manufacturing PMI dropped to 51.5, slightly above a forecast of 51.3.
Howard Archer at IHS Global Insight said: "Marginally softer Eurozone manufacturing expansion in September, according to the PMI, indicates that the Eurozone’s modest cyclical upturn is continuing but failing to kick on."
Back on this side of the pond, spread betting quotes point to the Dow Jones opening some 75 points up from last night's close of 16,285; the Dow added 236 points yesterday.
The broader-based S&P 500 rose 36 to 1,920 and is expected to rise another seven points or so at the outset.
Economic data due out today includes weekly jobless claims ahead of tomorrow's big release of September's jobless figures; US manufacturing data for September and the September reading of the ISM index.
Ahead of the bell, tech giants Google (NASDAQ:GOOG, NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT) were both moving north in electronic trading.
The two leviathans of the digital era have kissed and made up, ending a long-running patent dispute.
They have agreed to drop some 20 lawsuits between them, relating to relating to software powering smartphones.
Elsewhere in the technology world, Twitter (NYSE:TWTR) is set to unveil its new chief executive, though it is going to be founder and current interim boss Jack Dorsey so there won’t be much of an adjustment period.
In the retail sector, Target (NYSE:TGT), meanwhile, edged up 0.9% as it pledged to extend its price-matching policy against competitors.
The world's larger retailer by sales, Wal-Mart (NYSE:WMT) was up 1.8% in electronic trading as it flagged plans to lay-off workers.
Labor relations seem a bit more cordial at tractor maker Deere (NYSE:DE), where a tentative agreement has been reach with the United Auto Workers Union to replace an accord that had expired.