CORRECTED-US STOCKS-Futures higher as robust Chinese data eases growth worries

(Corrects paragraph 7 to remove reference to falling 10-year
yield)
* Futures up: Dow 0.75%, S&P 0.77%, Nasdaq 0.96%

By Uday Sampath Kumar
Sept 4 (Reuters) - U.S. stock index futures rose on
Wednesday after encouraging data from China allayed concerns of
slowing global growth in the backdrop of an ongoing trade
dispute between the United States and China.
A private survey showed activity in China's services sector
expanded at the fastest pace in three months in August, a boost
to the world's second-largest economy struggling to reverse a
prolonged slump in its manufacturing sector. Wall Street's three major indexes fell on Tuesday after the
United States and China imposed new tariffs on each other's
goods over the weekend and on data showing weak U.S. factory
activity in August. Markets have struggled in August as escalating trade
tensions and the inversion of a key part of the U.S. yield
curve, often seen as a sign of recession, drove investors away
from risky assets, pushing the S&P 500 .SPX 1.8% lower for the
month.
The benchmark is now 4% away from its record high hit in
late July.
Intel Corp INTC.O , Qualcomm Inc QCOM.O and Micron
Technology Inc MU.O rose between 0.7% and 3% in premarket
trading.
Goldman Sachs Group Inc GS.N , Bank of America Corp BAC.N
and JPMorgan Chase & Co JPM.N were also trading higher.
Investors will also keep a close watch on the monthly jobs
report, which is due on Friday, to gauge the likelihood of
another interest rate cut from the Federal Reserve at its
mid-September meeting.
At 7:17 a.m. ET, Dow e-minis 1YMcv1 were up 195 points, or
0.75%. S&P 500 e-minis EScv1 were up 22.25 points, or 0.77%
and Nasdaq 100 e-minis NQcv1 were up 72.75 points, or 0.96%.
Among other stocks, Tapestry Inc TPR.N shares rose 2.5%
after the Coach handbag maker said Chief Executive Officer
Victor Luis was stepping down.
Activision Blizzard Inc ATVI.O gained 2.2% after brokerage
BMO Capital Markets upgraded the videogame publisher's stock to
"outperform."
Tyson Foods Inc TSN.N shares fell 5.1%, after the United
States' biggest meat processor cut its 2019 earnings forecast,
citing a litany of causes including a recent fire at its Holcomb
slaughterhouse and volatility in the commodity market.
On the data front, a report from the Commerce Department is
expected to show U.S. trade deficit in July narrowed to $53.5
billion from $55.2 billion in June. The report is due at 8:30
a.m. ET.