US markets look set to take their lead higher from stocks in Asia today which got a boost from the better than expected China PMI numbers over the weekend. Europe has been more restrained this morning with PMIs coming in a little lower than expected. Futures suggest the S&P500 will open 1 point higher at 1,924 with the Dow Jones expected to open 16 points higher at 16,733. The S&P 500 has been leading the charge for global stock markets, currently making fresh highs daily but this week may take a back seat to the Dax, Cac and Mib depending on the pronouncements from the ECB on Thursday. Only after Thursday will attention switch back stateside for Friday’s non-farm payroll report expected to show 219k more jobs added to the economy. ISM manufacturing data today is expected to show an improvement from 54.9 to 55.7. A higher ISM is supported by a jump in the flash manufacturing PMI. Markets are placing even more emphasis on leading economic indicators to give them something to grab hold of to support the idea of a ‘snapback’ from the weak first quarter. Valeant Pharmaceuticals have raised their bid for Allergan to $53bn. The move shows determination and comes off the back of talks between Bill Ackman’s Pershing Square Capital and major stakeholders. Allergan stock moved slightly higher as large shareholders discussing the deal is leading investors to think a deal could actually get done. Krispy Kreme Doughnuts is expected to show first quarter earnings of 23c per share on revenue of $126.68m.