By Angela Moon
NEW YORK (Reuters) - Stocks futures rose on Monday as investors awaited data on U.S. manufacturing and construction spending, shifting focus from disappointing data out of China that weighed on equity markets elsewhere.
* The day's major U.S. economic news includes the Institute for Supply Management's Purchasing Managers Index for the manufacturing sector for May due at 10:00 a.m. ET (1400 GMT). A Reuters survey of analysts expect a reading of 50.7, unchanged from April, with a reading above 50 indicating growth in the sector.
* Also on tap is construction spending data for April at 10:00 a.m. ET which is expected to show an increase of 0.8 percent, up from a decrease of 1.7 percent in March.
* Markets in Asia and Europe were rattled by data showing China's economy losing steam last month, with factory activity shrinking for the first time in seven months while growth in the services sector cooled.
* S&P 500 futures rose 9 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 48 points and Nasdaq 100 futures added 10 points.
* On Friday, U.S. stocks sold off in late trading with the S&P 500 posting consecutive weekly losses for the first time since November, as investors were willing to take some money off the table after a seven-month run of gains.
* European shares dropped early on Monday, with indexes testing technical support levels. <.eu></.eu>
* A long-running fight comes to a head on Monday when court proceedings begin over an $8.5 billion settlement between Bank of America Corp and investors in mortgage securities that turned sour in the financial crisis.
* Apple Inc goes to trial Monday over allegations by federal and state authorities that it conspired with publishers to raise the price of e-books.
(Reporting by Angela Moon; Editing by Chizu Nomiyama and Kenneth Barry)
(This story was refiled to add missing words "index futures" in the first paragraph)