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Stock Futures gain heavily on expected overseas growth.
China and Australia are both showing strong signs of growth, calming fears of a global economic slowdown. A surprise at a time when dismal economic reports abound. The markets have been volatile in the past month due to uncertainty from traders.
Stock markets rising worldwide have had the effect of making U.S. Treasury prices drop and interest rates rise. 10-year Treasury note yield, which moves opposite its price, fell to 2.52 percent from 2.47 percent Tuesday afternoon. Interest rates on mortgages and other consumer loans are often set using this yield as a gauge.
Before the opening bell, Dow Jones industrial average futures rose 98, or 1 percent, to 10,104. Standard & Poor's 500 index futures rose 12.50, or 1.2 percent, to 1,060.80, Nasdaq 100 index futures rose 24.50, or 1.4 percent, to 1,791.00.
S&P/ASX 200 index in Australia jumped 2.1 percent on the upbeat growth report. The Hang Seng index in Hong Kong rose 0.4 percent, while Japan's Nikkei stock average rose 1.2 percent.
On opening, the European markets followed the gains set by the Asian markets. FTSE100 in Britain rose 1.5 percent, Germany's DAX index gained 1.1 percent, and France's CAC-40 added 1.8 percent.
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