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Will the US PMI data matter much for the Dow Jones later today?

The main economic releases in the US later today concern what we have seen already in Europe today and that is their equivalent flash February PMI readings. Those will be released after the US stock markets reopen at 2.30pm GMT. As things currently stand it is going to be a higher opening today, especially for the Nasdaq 100. That is unlikely to change of course given the more than 2% rise in the Nasdaq 100 futures since the close last night. The PMI data will hit the screens at 2.45pm GMT and both the service and manufacturing sector readings are expected to come in slightly lower. Also to note; ahead of this at 1.30pm GMT we get the usual weekly jobless claims and that can have an impact. The focus here is on the Dow Jones, as the Nasdaq 100 is doing its own thing, with the focus there on AI and NVIDIA . The Dow Jones closed last night at 38,612, with a gain of just 44 points on the day. It is currently priced to reopen at around 38,700, but it has been above 38,850 earlier today. The current record high for the index remains in place at 38,927. 

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