Here comes the Dallas Fed ...

The February report on manufacturing activity in Texas is set for release from the Dallas Federal Reserve at the bottom of the hour.

In the last couple months, this report has been in focus as business owners in Texas take stock of how the decline in oil prices is weighing on that state's economy.

Expectations are for the headline index to come in at -4, up from -4.4 last month but still indicating contracting in the state's manufacturing sector.

We'll be back with latest updates when the release hits.