US stock index futures slightly changed after China PMI data

U.S. stock-index futures remain almost unchanged, following three weeks of gains for the Standard & Poor’s 500 Index, as a economic data report showed that China’s manufacturing expanded at its fastest pace in six months.

S&P 500 futures expiring in December added 0.2% to 1,705.3 at 7:23 a.m. in New York. The benchmark index added 1.3% last week as the Federal Open Market Committee said at its Sept. 17-18 meeting that it will continue to buy $85 billion of assets a month, surprising economists who had predicted a reduction. Contracts on the Dow Jones Industrial Average rose 12 points, or 0.1%, to 15,415 today.

“Continued positive data from China is a relief, given the market concerns over a hard landing,” said Manish Singh, who helps oversee $2 billion as head of investment at Crossbridge Capital in London. “The Fed has pulled itself out of any guidance commitment. Its dovish stance has restated the fact that central banks will err on the side of caution and do what it takes to support growth. This is positive for all risk assets, including equities.” he added for Bloomberg.

In corporate world, BlackBerry retreated 5.9% to $8.21 after Jefferies lowered its rating on the shares to “hold” from “buy”. The brokerage said the handset business has a negative value after the smartphone maker reported results. Jefferies also reduced its 12-month price estimate to $8 from $15. BlackBerry fell the most in almost three months on Sept. 20, extending its decline this year to 27%.

On Friday, Apple Inc. began selling its new 5S and 5C iPhones, with reports indicating strong demand for the iPhone 5S, particularly for the one that comes in the new gold color. After just five minutes of sales, the new gold-colored iPhones were out of stock in London. Apple stores saw predictably long lines at its retail stores worldwide on Friday, though the lines don’t always provide a strong read-through to long-term demand. Shares of Apple closed at $467.41 on Friday, down 1%.