What you need to know before the US open – 03/02
January was a pretty bluesy month for US stocks – their worst since May 2012 – and February looks unlikely to kick off any better.
Stocks will track their European counterparts lower, with the S&P 500 expected to open flat.
The Dow is expected up 15 and the Nasdaq up two points.
Manufacturing data is in focus, with the Institute of Supply Management survey expected to show little change from January.
The risk of further investor flight from emerging markets is still fuelling fears, as political disruption and slowdown in economic growth continue.
Key events:
- US Markit manufacturing PMI for January at 1.53pm.
- US construction spending for December at 3.00pm Expected at 0.5 per cent from 1.0 per cent.
- US ISM manufacturing PMI for January at 3.00pm. Expected at 56 from 57.