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US Stock Indexes Futures up on first day of Q3

U.S. stock futures are pointing to a higher opening Wednesday as investors await data on the manufacturing and housing industries.

Futures are reflecting gains in European markets, which rose after upbeat reports on manufacturing activity in both Britain and the 16 countries that share the euro currency.

Later Wednesday morning, investors will get a reading on manufacturing activity in the U.S. Economists expect activity to have declined in June for the 17th straight month, but at the slowest pace since last August.

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