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NEW YORK (CNNMoney) -- U.S. stocks were set to rise Monday as investors start the fourth quarter with fresh data amid ongoing global growth concerns.
European stocks were higher in morning trading after Spain passed two major hurdles last week when it proposed its 2013 budget and results from bank stress tests were in line with expectations. Britain's FTSE 100 rose 1%, the DAX in Germany was up 1.3% and France's CAC 40 increased 1.4%.
Europe's statistical agency said Monday that the unemployment rate in the region was a record 11.4% in August, unchanged from the previous month's revised figure. There was a little hope in Markit's otherwise gloomy eurozone manufacturing purchasing managers' index; while the region is still experiencing contraction, the 46.1 reading for September was a six-month high.
In Asia, Japan's Nikkei declined 0.8% after a central bank survey showed business sentiment has fallen. Markets in Shanghai and Hong Kong were closed for a holiday. A report on manufacturing activity in China showed continued contraction in the sector, although there was a little improvement.
In the United States, fresh data will kick off a week of economic reports set to culminate on Friday with the release of the government's monthly jobs report.
At 10 a.m. ET, the Institute for Supply Management will release its manufacturing Index for September, which is expected to tick up to 49.7 from 49.6 in the month prior, according to a survey of analysts by Briefing.com. Any reading below 50 signals contraction in the sector.
A disappointing manufacturing report Friday caused U.S. stocks to finish lower. The Chicago Purchasing Managers Index for September showed manufacturing on the decline in the Chicago area for the first time since 2009.
The Census Bureau will release data on construction spending for August at 10 a.m. ET.
Companies: The prospects of a huge consolidation in the international mining industry looked brighter, after Xstrata's (XSRAF) board of directors said it was backing a revised offer from Glencore International. The merger was first proposed in February, but had been delayed by shareholder objections.
Related: China manufacturing slump drags on
Currencies and commodities: The dollar weakened against the euro, but rose against the British pound and Japanese yen.
Oil for November delivery fell 53 cents to $91.66 a barrel.
Gold futures for December delivery dropped $3.30 to $1,770.60 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 1.63% from 1.64% late Friday.
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