Here comes the ISM manufacturing index ...

The Institute for Supply Management and Markit Economics will shortly release reports on surveys of US manufacturers conducted during March.

Economists forecast that Markit's final purchasing manager's index, out at 9:45 a.m. ET, is 53.5, according to Bloomberg. They estimate that ISM's index, out at 10 a.m. is 57.2, down from 57.7 in February. Readings above 50 indicate expansion.

"Like most survey-based indicators, the ISM manufacturing index has enjoyed a solid run post-election," said Wells Fargo's Sam Bullard in a preview.

"The index is up 5.7 points from its October reading. A look at subcomponents points to broad strength. Current production is 62.9, more than five points above its six-month average. That strength looks set to carry forward with new orders reaching a three-year high of 65.1 in February and backlogs of orders jumping to 57.0-the first expansionary print in seven months."

More to come ...