Here comes ISM manufacturing ...

The Institute of Supply Management and Markit Economics will release their reports on the US manufacturing sector during February.

Markit's purchasing manager's index, out at 9:45 a.m. ET, is forecast at 54.5, according to Bloomberg. The ISM's index is forecast at 56.2, up from 56 in the prior month.

"Incoming data suggest this index may have increased further in February, consistent with the further improvement seen in manufacturing indexes from other surveys," said Nomura economists in a preview.

"The headline indexes from the Philly Fed and Empire State surveys were up strongly in February, with broad-based improvement in details, suggesting healthy activity in the manufacturing sector. Moreover, financing conditions remained favorable for this sector as the corporate credit spread narrowed further in February."

More to come ...