From Nasdaq:

Asia-Pacific equity markets mostly closed higher, except for Taiwan, which declined. China’s Shanghai Composite and Japan’s Nikkei surged to record levels. European markets are up, and U.S. equity futures suggest a mixed open. Nasdaq Composite closed at a record high in February, gaining 6.1%. Today’s focus is on manufacturing PMI reports.

International economy news includes Japan’s Manufacturing PMI at 47.2 in February, China’s NBS Manufacturing PMI at 49.1, Non-Manufacturing PMI at 51.4, and Caixin General Manufacturing PMI at 50.9. Eurozone Manufacturing PMI revised higher to 46.5. Consumer price inflation in the Euro area eased to 2.6% YoY.

In the domestic economy, focus is on today’s February Manufacturing PMI reports and January Construction Spending Report. Equities responded positively to yesterday’s PCE update with technology and communication services leading gains. Healthcare and consumer staples declined. Major indexes ended higher, with Hormel Foods reporting stronger-than-expected earnings.

Stocks to watch: Hibbett, Plug Power, and Radnet expected to release earnings. Hewlett Packard Enterprise shares under pressure after earnings, while NetApp sees gains. Dell and Zscaler beat expectations but seeing differing market reactions. New York Community Bancorp shares drop over 21%, SoundHound AI misses quarterly expectations.

United Airlines announces reduced Boeing deliveries due to 737 MAX 10 certification delays. Several companies, including B.Riley Financial and 3D Systems, report delays in filing 10-K with SEC. Today, no companies are expected to report earnings after the market closes. Tuesday’s focus includes PMI reports from Japan, China, Eurozone, UK, and the US.



Read more at Nasdaq:: Daily Markets: February Inflation Data Sets Tone for End of Week Trading