Stock futures rise, oil falls on reserve release report
The Commerce Department will report personal income and spending numbers for February. Economists surveyed by Refinitiv anticipate spending to rise 0.5% month-over-month, trailing a stronger-than-expected increase of 2.1% in January. Personal income, meanwhile, is also expected to edge up 0.5% in February after a flat January. Core personal consumption expenditures, which remove volatile food and energy prices, are also seen rising 0.4% month-over-month.
The Labor Department is out with its tally of new claims for unemployment benefits for last week. Expectations are for 197,000, up slightly from 187,000 the previous week. Continuing claims, which track the total number of unemployed workers collecting benefits, are anticipated to hold steady at 1.35 million. The government will release the monthly jobs report on Friday morning.
The Institute for Supply Management is out with its Chicago Purchasing Managers’ index for March. The closely-watched gauge of Midwest business activity is anticipated to rise slightly.In Asia, The Nikkei 225 in Tokyo shed 0.7%, the Hang Seng in Hong Kong sank 1.1% and China's Shanghai Composite Index lost 0.4% after an index of Chinese manufacturing activity fell to a five-month low.
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