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U.S. stock futures rise on China factory gains

NEW YORK U.S. stock futures are rising after a strong Chinese manufacturing survey and ahead of reports on U.S. consumer prices and industrial production.

Dow Jones industrial futures are up 40 points to 13,197. The broader S&P 500 futures are up 4 points to 1,422. Nasdaq futures are up 3 points to 2,655.

The improvement in Chinese manufacturing activity suggests global consumer spending may be recovering from a weak patch this year. China's manufacturing activity rose to a 14-month high in December.

The U.S. consumer prices report is due at 8:30 a.m. Eastern and the industrial production report at 9:15 a.m. Economists predict prices fell 0.2 percent in November as lower gasoline prices offset higher food costs.

European markets were less upbeat after Standard & Poor's lowered its credit outlook on Britain

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