What you need to know before the US open
Stocks across the globe have been given a boost after positive remarks by Janet Yellen yesterday on the Fed’s attitude towards a rate hike – soothing worries one would come earlier than expected.
Futures point towards a positive open, as markets continue the moderate gains seen in the first quarter.
Investors will also have the opportunity to digest Markit and ISM's US manufacturing surveys for March this afternoon.
Corporate news
Chrysler has reported a 13 per cent rise in US car sales in March, selling almost 194,000 vehicles and exceeding expectations.
There will be numbers from Ford, but GM has now delayed releasing its results, although they were scheduled, because of "system issues".
The announcement comes just before a Congress hearing into GM’s response to defective ignition switches in cars, following at least 13 auto-related deaths seen over the past decade.
And a Senate hearing will grill executives from Caterpillar on the company’s offshore tax strategies.
Meanwhile, Russia’s Rosneft has said it expects gas output to hit 55bn cubic metres (bcm) this year, rising to 63m bcm next year.
Data in focus
- 2.45pm: Markit March manufacturing PMI
- 3.00pm: US Feb construction spending
- 3.00pm: US ISM March manufacturing PMI
- 9.00pm: US March total vehicle sales