U.S. futures edge higher but caution remains; Dow Jones up 0.19%

U.S. stock futures pointed to a higher open on Monday, although investors remained cautious after a disappointing economic report out of China, while markets eyed the release of U.S. manufacturing data later in the day.

U.S. futures point to higher open despite cautious trade

Ahead of the open, the Dow Jones US futures pointed to a 0.19% rise, S&P 500 futures signaled a 0.25% gain, while the Nasdaq 100 futures indicated a 0.35% increase.

The preliminary reading of China’s HSBC manufacturing purchasing managers' index fell to an eight-month low of 48.1 in March from a final reading of 48.5 in February. Analysts had expected the index to tick up to 48.7.
Markets were also jittery after Federal Reserve Chair Janet Yellen suggested last week that a rate hike might come about six months after the bank’s stimulus program ends, which is expected to happen in the fall.
Coca-Cola (NYSE:CCE) was likely to be in focus, after activist investor David Winters sent a public letter to the company, criticizing its compensation plans.

Health care giant Herbalife (NYSE:HLF) was also expected to be active, after saying it agreed to nominate three people proposed by billionaire Carl Icahn to its board. The news sent Herbalife shares up 6.60% in pre-market trade.

In the financial sector, JP Morgan Chase (NYSE:JPM) was set to move amid reports Fang Fang, the U.S. lender's chief executive officer of investment banking for China, is leaving after more than 12 years at the firm.

Other stocks likely to be in focus included Sonic Corp (NASDAQ:SONC), scheduled to report quarterly earnings later in the day.

Across the Atlantic, European stock markets were lower. The DJ Euro Stoxx 50 declined 0.80%, France’s CAC 40 dropped 0.59%, Germany's DAX slid 0.57%, while Britain's FTSE 100 shed 0.37%.
During the Asian trading session, Hong Kong's Hang Seng surged 1.91%, while Japan’s Nikkei 225 rallied 1.77%.

Later in the day, the U.S. was to release preliminary data on manufacturing activity.