US markets look set for a cautiously positive open to the second half of the year after Asia markets took their cues from some positive Japanese business data, though investors main focus this week remains on this week’s upcoming employment reports. Markets in Europe, on the other hand have seen rather mixed responses to this morning’s manufacturing PMI data from Spain and Italy, while concerns still remain about the sclerotic French economy, which showed a contraction in its June numbers. Abbvie shares are expected to be in focus today as the CEO flies into the UK to pitch his vision to Shire shareholders, so that talks can begin on a prospective deal. Also worth keeping an eye on today will be the latest ISM manufacturing survey for June which is expected to come in at 55.9, above the 55.4 reading seen in May. On this occasion it is likely that there will be extra attention given to the prices paid component of the index for evidence of rising price and inflationary pressures, given recent strong CPI and PCE readings, with a number of 60 expected. The key question being is the Fed underestimating the potential threat of inflation in the near term? The Dow Jones is expected to open 25 points higher at 16,851The S&P500 is expected to open 3 points higher at 1,963.23CMC Markets is an execution only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.