NEW YORK (

TheStreet

) -- U.S. stock futures were pointing to a stronger open Tuesday on better-than-expected Chinese manufacturing data.

Futures for the

Dow Jones Industrial Average

were up by 132 points, or 144 points above fair value at 10,979. Futures for the

S&P 500

were higher by 16 points, or 18 points above fair value, at 1140, and

Nasdaq

futures were ahead by 28 points, or 28 points above fair value.

Stocks finished with slight gains Monday as the market struggled to find its footing before

Federal Reserve

Chairman Ben Bernanke's speech at the Kansas City Fed conference in Jackson Hole, Wyo., on Friday.

A

purchasing managers index showed that manufacturing activity in China rose to 49.8 in August , compared with July's level of 49.3, beating market expectations.

The FTSE in London was gaining 1.2% and the DAX in Frankfurt was rising 1.7%. Hong Kong's Hang Seng jumped 2% and Japan's Nikkei advanced 1.2%.

Deven Sharma, president of

McGraw-Hill

( MHP) subsidiary

Standard & Poor's

,

will leave the company and be replaced by Douglas Peterson . Peterson, who will join the company Sept. 12, is currently chief operating officer of Citibank N.A., the chief banking unit of

Citigroup

(C) - Get Report

. Sharma's resignation follows the rating agency's much-criticized decision to downgrade the U.S. credit rating to AA+ from AAA.

Delta

(DAL) - Get Report

plans to order 100

Boeing

(BA) - Get Report

737 single-aisle jets in a deal valued at more than $8 billion, according to a

Wall Street Journal

report.

H.J. Heinz

(HNZ)

reported

better-than-expected first-quarter adjusted earnings on growth across emerging markets. The company said it expects second-quarter earnings to meet or come in slightly above its year-ago profit, but lowered its fiscal 2012 adjusted earnings guidance.

Shares of

UBS

(UBS) - Get Report

were rising 3.6% to $13.67 in early trading following news that the

Swiss bank plans to cut 3,500 jobs in an effort to eliminate expenses of 2 billion Swiss francs ($2.54 billion) a year by the end of 2013. According to the company, 45% of cuts will come from its investment bank while 35% will come from its wealth management and Swiss banking business.

At 10 a.m. EDT, the market is anticipating a small dip in new-home sales in July. Data from the Commerce Department is expected to show that new-home sales fell 0.6%, to a seasonally-adjusted rate of 310,000, from 312,000 in June, according to Briefing.com.

The October crude oil contract was gaining 92 cents to trade at $85.34 a barrel. Elsewhere in commodity markets, gold for December delivery was losing by $4.40 to trade at $1,887.50 an ounce.

The benchmark 10-year Treasury was down 10/32, lifting the yield to 2.148%. The dollar weakened against a basket of currencies, with the dollar index down by 0.6%.

.

-- Written by Melinda Peer in New York

.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.