US stocks open higher ahead of ISM manufacturing PMI

By FXStreet US stocks begin May on slightly positive note ahead of a key reading on US manufacturing sector, ISM manufacturing PMI that would assist investors to evaluate the health of country’s manufacturing sector.

At the open, the S&P 500 index was up 0.2%, at 2,070 while the Dow Jones Industrial Average (DJIA) opened with similar gains at 17,810. Meanwhile, the tech heavy Nasdaq Composite opened at at 4,780 with a gain of 0.1%.

European stocks showing signs of stability but Asian markets end lower

European markets are also trading higher with most major indices recording gains of around 0.5%, while London markets shut for a holiday in observance of May Day.

Earlier during the day, fall in Asian indices was led by extended sell-off of over 3.0% in Japanese equities. With markets in China, Hong-Kong and Singapore closed on Monday for national holidays, equity markets in Asia closed with a cut of anywhere between 0.2% and 1.3%.

Data to watch

The Institute for Supply Management (ISM) is scheduled to release its manufacturing PMI data for the month of April and any signs of deteriorating conditions would further push expectations of a Fed rate-hike and thus assist improve investor sentiment.
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Source:: FX Street