Wall Street futures rise ahead of manufacturing data

NEW YORK -- U.S. stock futures are moderately higher as investors await key reports on manufacturing and housing, seeking reassurance that the economic recovery will be sustainable.

Asian markets fell overnight, while European shares are moderately higher.

Investors are hoping a report on manufacturing shows continued improvement in the industry. The market will also get reports on pending home sales and construction spending.

News that commercial lender CIT Group Inc. filed for bankruptcy protection yesterday after a debt-exchange offer to bondholders failed did not come as a surprise.

Dow Jones industrial average futures are up 53 at 9,717. Standard & Poor's 500 index futures are up 6 at 1,039, while Nasdaq 100 index futures are up 4 at 1,669.

-- The Associated Press