Case of the February blahs: What you need to know before markets open

North American markets look headed for a lower open today, starting February on a dour note after the worst January for the S&P 500 since 2009.

North American markets look going to a lower open today, starting February on the dour note following the worst January for that S&P 500 since 2009.

Weak economic data from China, which showed that the earth’s second-largest economy’s manufacturing sector contracted in January in the fastest pace since 2012, will exacerbate concerns regarding a China-led global slowdown.Oil prices fell after China data added to worries about demand as well as an OPEC source played down talk of the emergency meeting to stem the decline. Oil prices have fallen a lot more than 70 percent since mid-2014.On Monday, David Baazov, chief executive of Amaya Inc., announced Monday that he and a number of investors desire to make an all-cash proposal to acquire Amaya for $21 a share, a 40% premium to Friday’s closing price on the Toronto Stock Exchange.A slew of U.S. economic reports is scheduled to be sold on Monday, including manufacturing and consumer spending numbers. Investors pays close attention to U.S. Federal Reserve vice-chairman Stanley Fischer’s speech on the central bank’s recent monetary policy at an event at 1 p.m. ET.Fourth-quarter corporate reporting months are well under way, with S&P 500 companies typically expected to post a 4.1 per cent drop in earnings, based on Thomson Reuters I/B/E/S.Results is going to be “ugly” when Canadian gas and oil companies begin reporting their fourth quarter and year-end earnings now. Analysts widely expect major Calgary-based energy producers to chop deeper to their budgets, cut dividends and cut more staff as the oil price rout, which wreaked havoc throughout 2015, worsened over the course of your fourth quarter and into January. The autumn in oil prices will even imply that large companies face non-cash charges on their own earnings as their reserves fall in value.Internet giant Alphabet, which reports after the bell, was up 0.9 percent at $767.97 in premarket trading.Chipotle Mexican Grill was up 4.5 per cent at $473.20 following the Wall Street Journal reported that the E. coli outbreak that affected the burrito chain’s customers last year may be declared as over as soon as Monday.

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