U.S. stock index futures were higher Wednesday morning.
The moves in pre-market trade come after a report showed growth in China’s services sector had expanded at its fastest rate in three months in August, despite broader economic headwinds.
The Caixin/Markit Services Purchasing Managers’ Index (PMI) came in at 52.1 in August — its highest reading since May. The 50-mark in PMI readings separates growth and contraction.
At the start of the month, the U.S. and China imposed new tariffs on one another’s goods. It marked the latest escalation in a long-running trade war between the world’s two largest economies.
Meanwhile, in Europe, a cross-party alliance of rebel lawmakers defeated British Prime Minister Boris Johnson in parliament on Tuesday, moving to prevent him from taking the country out of the European Union without a formal agreement on October 31.
It prompted the new prime minister to announce he would immediately push for a snap election.
Sterling has since pared some of its recent losses against the U.S. dollar. The U.K. currency edged up 0.2% to climb above $1.21 Wednesday morning, after falling to its lowest level since October 2016 in the previous session.
On the data front, international trade figures for July will be released at 8:30 a.m. ET, with light vehicle sales data for August set to follow slightly later in the session.