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Inside the Market

Before the bell: Stocks pointing up after jarring selloff

The Before the Bell report is constantly updated to reflect the latest news developments and market moves in the premarket. Check back later for updates.

Global stocks look stable on Friday following a jarring selloff on Thursday, when disappointing Chinese economic data rattled some nerves. Most developed-market indexes were moving higher before the opening bell, although emerging markets were down overnight.

Futures for the Dow Jones industrial average were up about 39 points, after the blue-chip index fell 135 points on Friday. Futures for the S&P 500 were up 5 points after the benchmark index sustained its biggest daily drop in three weeks. European stocks were up 0.6 per cent.

The news from China continues to look unpleasant though. This time, the country's non-manufacturing index fell to a four-month low, following Thursday's disappointing reading on manufacturing. The Shanghai stock exchange composite index fell more than 1 per cent, and dragged down other emerging market indexes as well.

At least the news in Europe was upbeat. U.K. home prices are on the rise, while the yield on Spanish government bonds has fallen to their lowest levels in more than three years. The yield on the 10-year bond, for example, fell to 3.91 per cent, after a reading on the country's jobless numbers showed a 2.24 per cent decrease in December.

In economic news closer to home, investors will be listening to Federal Reserve chairman Ben Bernanke's speech at an economics conference in Philadelphia for any additional insights into the Fed's plans for tapering its bond-buying stimulus program, along with what Mr. Bernanke feels about U.S. bond yields hovering around 3 per cent.