What you need to know before the US open – 04/02
US markets look poised to steady today, following yesterday’s shock manufacturing report.
The numbers saw the S&P 500 experience its worst day since June yesterday, with both the dollar and global equities sliding. Global shares dropped to a near four-month low.
But despite little in the way of data today to help investors plan a way forward, it looks like the scale of declines should ease.
S&P’s stock futures were up 0.3 per cent to 1,739 this morning, following yesterday’s 2.3 per cent fall.
The Dow rose 0.2 per cent to 15,329 and the Nasdaq 0.3 per cent to 3,440.
Meanwhile, the dollar is gaining against the euro and the yen, while emerging markets have made gains against the dollar.
Key events:
- US ISM New York index for January at 2.45pm.
- US factory orders for December at 3.00pm. Expected at -1.9 per cent from 1.8 per cent.
- US Fed’s Evans speech at 5.30pm.