US Stock Futures Point To Positive Open After Monday’s Slump; Earnings, Factory Orders Data Will Be Watched

Stock futures suggest indexes will begin the session on a positive note following Monday’s crash, which was triggered by extremely disappointing manufacturing data, and led to a sell-off Tuesday in Asian markets.

Futures on the Dow Jones Industrial Average were up 0.22 percent and futures on the S&P 500 were up 0.36 percent while those on the Nasdaq were up 0.2 percent. On Monday, the Dow fell more than 300 points, or 2.08 percent, while the S&P 500 plunged 2.28 percent and the Nasdaq dropped 2.61 percent.

On the earnings calendar, Tuesday's schedule includes announcements from Emerson Electric Co. (NYSE:EMR), Archer Daniels Midland Co. (NYSE:ADM), Spectra Energy Corp. (NYSE:SE) and International Paper Co. (NYSE:IP), all of which will come before markets open.

On the data front, factory orders numbers, which account for the level of new orders for durable and nondurable goods, for December, are due at 10 a.m. EST.

In Europe, stocks were weak with the Stoxx Europe 600 index down 0.31 percent while the FTSE 100 was down 0.2 percent. Germany’s DAX-30 was down 0.84 percent and France's CAC-40 was down 0.2 percent.

In Asia, markets went the Wall Street way, with Japan’s Nikkei plunging to end the day down 4.18 percent while Australia’s S&P/ASX 200 dropped 1.75 percent. Hong Kong’s Hang Seng, back from the lunar New Year holiday, lost 2.89 percent while South Korea’s Kospi fell 1.72 percent. India’s BSE Sensex, on the other hand, which had fallen more than 1 percent during the day’s session, recovered to close up 0.01 percent.