U.S. stock futures were pointing to a lower open Tuesday, the final day of the turbulent first quarter.
instead of an expected contraction. However, Chinese officials warned against reading too much into the numbers because February's outbreak halt was so severe. They also cautioned that it does not mean that the country's economic activities have returned to normal levels.
In the U.S., the latest Chicago purchasing managers index is out at 9:45 a.m. ET. The PMI for March, a month when state governments started issuing stay-at-home orders, is expected to plunge to 40 from February's 49 reading, a number under 50 indicates contraction In a reading on how Americans are feeling about the economy, the Conference Board's February consumer confidence index, out at 10 a.m. ET, is seen falling to 110.0 from January's 130.7 reading. The latest S&P/Case-Shiller report on home prices is released at 9 a.m. ET.
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