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The Associated Press March 30, 2012, 08:16AM ET

US futures rise ahead of consumer spending report

Stock futures are moving higher ahead of a government report that is expected to show the biggest gain in consumer spending since September.

While a portion of that spending is on gasoline, the February spending report could signal that a major driver in the U.S. economy is ramping up.

Dow Jones industrial futures are up 55 points to 13,133 and the Standard & Poor's 500 futures are up 6.8 points to 1,405. The Nasdaq composite futures are up 13.5 points to 2,771.75.

The Commerce Department will release the report at 8:30 a.m. Eastern time Friday. Economists expect a 0.6 percent increase in spending for February.

European markets are also bouncing back after a rocky week, though Asian markets took a hit after some poor factory production numbers from Japan.

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