PARIS (Reuters) - Stock index futures pointed to a higher open on Wall Street on Monday, with futures for the S&P 500 up 0.29 percent, Dow Jones futures up 0.31 percent and Nasdaq 100 futures up 0.3 percent at 5 a.m. EDT.
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German industrial gas producer Linde AG
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European stocks were up around 1 percent in morning trade on Monday, extending Friday's sharp rally as grim euro zone manufacturing data fuelled speculation the European Central Bank will cut interest rates later this week to support the region's economy. <.EU>
On the macro front, investors awaited the Institute for Supply Management's June manufacturing index, due at 10 a.m. EDT. Economists in a Reuters survey expect a reading of 52.0 versus 53.5 in May. Investors will also keep an eye on May construction spending, also due at 10 a.m. EDT.
U.S. stocks surged on Friday to close out a sour quarter on a high note as investors cheered an agreement by European leaders to stabilize the region's banks, a pact that helped remove some of the uncertainty that has plagued markets.
The Dow Jones industrial average <.DJI> jumped 277.83 points, or 2.20 percent, to 12,880.09 at the close. The Standard & Poor's 500 Index <.SPX> rose 33.12 points, or 2.49 percent, to 1,362.16. The Nasdaq Composite Index <.IXIC> climbed 85.56 points, or 3.00 percent, to 2,935.05.
For the week, the Dow gained 1.9 percent, the S&P 500 rose 2 percent and the Nasdaq advanced 1.5 percent. For the month of June, the Dow rose 3.9 percent, the S&P climbed 4 percent and the Nasdaq added 3.8 percent. But for the second quarter, the Dow fell 2.5 percent, the S&P 500 lost 3.3 percent and the Nasdaq dropped 5.1 percent.
(Reporting by Blaise Robinson; Editing by Catherine Evans)