US stock futures rose in anticipation of the release of a domestic jobs report and after Chinese manufacturing data beat expectations.
A report on initial jobless claims for the week ended October 18th is expected to fall to 340,000 from 358,000 in the prior week.
This comes two days after a report showed non-farm payrolls increased by 148,000 in September, missing the consensus for 180,000.
The report had been delayed by over two weeks due to the prolonged government shutdown.
The weaker-than-forecast jobs data also reinforced expectations that the Federal Reserve's will hold off on tapering its monetary stimulus.
"By now we know that we are almost certain to not see a taper next week when the FOMC [Federal Open Market Committee] reconvene to discuss when to begin trimming back on the current $85bn monthly asset purchase scheme," said Craig Erlam, Market Analyst at Alpari.
In China, manufacturing activity grew more than expected. HSBC's purchasing managers' index (PMI) for the sector rose to 50.9 in October from 50.2 last month, beating the 50.4 forecast. A reading above 50 signals expansion.
Spreadex trader Shavas Dallas said the China data "provided an excuse for investors to dive back into the equity markets in full throttle".
The Eurozone PMI Composite, which includes manufacturing and services activity, fell to 51.5 this month from 52.2 in September, Markit Economics revealed.
Economists had pencilled in a reading of 52.4, signalling that the recovery in the currency bloc is struggling to gain momentum.
"No one expects the Eurozone to take off now that it has moved out of recession, in fact most see a couple of years of stagnation ahead," Erlam said.
"However, if these PMIs can remain mostly in growth territory in the future, that confidence, which is hugely important, should start to filter through to the hard data. If this confidence slips, pushing the PMIs back below 50, this would be a concern."
Preliminary data today is expected to show US manufacturing expanded in October at a slower pace than the previous month. The Markit Economics index fell to 52.5 from a final reading of 52.8 for September, according to consensus.
Turning to the earnings session, Amazon.com Inc., Microsoft Corp., Colgate-Palmolive Co. and Ford Motor Co. are among 47 companies in the S&P 500
scheduled to post results.
Software maker Citrix advanced after increasing its buyback and forecasting fourth-quarter earnings ahead of analysts' estimates.
Equinix, operator of data centres, gained after saying it expects fourth-quarter sales to exceed $559m, above market forecasts.
Akamai Technologies declined after projecting fourth-quarter revenue and profit that fell short of some forecasts.