A FLASH FLOOD WATCH is in effect for Austin, Brazos, Burleson, Grimes, Houston, Lee, Leon, Madison, Milam, Montgomery, Robertson, San Jacinto, Trinity, Walker, Waller, and Washington Counties until 7am SUNDAY. 1" to 3" of rain, with localized totals between 5" & 7" will be possible as a slow moving, weak cold front arrives through early Sunday.
U.S. stock futures are rising as investors cautiously welcome the result of stress tests of Spain's banks and a slight improvement in a survey of the eurozone's manufacturing sector.
Casting a shadow over markets was a possible downgrade by credit rating agency Moody's of Spain's debt rating to junk status.
Investors will be watching for reports on September manufacturing and August construction spending, both due at 10 a.m. Eastern.
European markets also rose broadly. In Asia, several markets were closed for holidays. In Tokyo, Japan's Nikkei 225 index fell after a survey showed confidence in the economy weakening.
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