US stock index futures rose as yen drops, tech stocks gain

US stock-index futures advanced, following the Standard & Poor’s 500 Index’s worst month since May 2012, as investors awaited a report that may show manufacturing expanded for a third month in August. RIA Novosti reported that Russian Defense detected two missiles launched into Mediterranean.

Futures on the S&P 500 expiring this month advanced 0.7% to 1,643.3 at 10:57 a.m. in London. The benchmark fell 3.1% in August amid concern the Federal Reserve would reduce its monthly bond purchases and the U.S. would take military action against Syria. U.S. exchanges were closed yesterday for the Labor Day holiday. Contracts on the Dow Jones Industrial Average added 82 points, or 0.6%, to 14,877 today.

“Manufacturing is finally increasing,” said to Bloomberg James Kinghorn, who helps oversee 146 billion pounds ($227 billion) at Scottish Widows Investment Partnership in Edinburgh. “Mergers and acquisitions activity is a good start as it looks like companies are more comfortable in putting money to work.”

Russia said two missiles appeared to be headed toward the east Mediterranean, state-run news service RIA reported, citing Defense Minister Sergei Shoigu speaking to President Vladimir Putin. Stocks gained earlier as takeovers boosted investor confidence. Two of the U.S. Senate’s most vocal critics of President Barack Obama’s Syria policy urged their colleagues to back use of military force, while saying the president has yet to fully explain his strategy.

Technology stocks advanced in pre-market trading as Facebook rose 1.4% to $41.89 and Apple increased 0.6% to $490.33.

Citigroup, the third-biggest U.S. bank by assets, climbed 2.4% to $49.50 in pre-market trading. The lender has sold more than $6 billion in private-equity and hedge-fund assets in the past month, the Wall Street Journal reported citing unidentified people familiar with the transactions.

Microsoft, the third-heaviest stock on the S&P 500, slipped 1.3% to $32.98 in early New York trading. The maker of the Windows operating system will pay 3.79 billion euros for Nokia’s devices and 1.65 billion euros for its patents, according to a statement from the companies.