Peter Schacknow, Senior Producer, CNBC Breaking News Desk
Wall Street's fortunes will apparently turn positive this morning, following the biggest week declines for the Dow and S&P 500 in over a year.
An agreement on a U.S. debt limit extension was agreed to over the weekend, helping send stock index futures higher this morning, though the agreement has yet to be voted on by Congress.
Those votes are likely to happen in the House and Senate sometime today.
Although that agreement is the overriding factor for investors this morning, the usual dose of earnings and economic numbers is on tap as well as we begin a new week.
At 10am ET, the Institute For Supply Management will issue its monthly manufacturing index, with economists looking for a July reading of 54.6 compared to June's 55.3.
At the same time, the government's June construction spending report is expected to show an increase of 0.1%, following May's 0.6% decline.
Allstate (ALL), Humana (HUM), and Loews (L) are among the notable earnings reports out this morning.
Health care stocks may be worth watching today, after Medicare said late Friday it would cut payment rates to skilled nursing facilities by 11.1% next year.
That's hitting stocks like Kindred Healthcare (KND), Sun Healthcare (SUNH) and Skilled Healthcare Group (SKH).
Shares of HSBC (HBC) may move today after the bank posted a surprise profit and also announced it was selling its U.S. Branches to First Niagara (FNFG) for about $1B.
We'll also watch shares of Peabody Energy (BTU) And ArcelorMittal (MT) after the two launched a $5.2 billion hostile bid for Australia's Macarthur Coal. Macarthur maintains the bid is undervalued and it's working on attracting rival bids.
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