US ISM manufacturing index likely rose in February

The US Institute for Supply Management's (ISM) national factory activity measure is expected to have risen in February to 49. This will be a second continuous increase in the gauge; however, it will still be lower than the threshold of 50. The Bureau of Labor Statistics' (BLS) employment situation report is set to release this week.

The employment diffusion index might get additional attention after reaching the lowest mark since June 2009. The ISM prices-paid diffusion index, on the inflation side, is expected to have continued with its decline, falling to 32.5, below breakeven for the 16th consecutive month.