Futures are rallying

Screen Shot 2016 03 01 at 8.22.31 AM copyInvesting.comGold is also rallying. Gold just had a huge month.

We’re set up for an open in the green on Wall Street as futures rally ahead of the opening bell.

Near 8:10 a.m. ET, Dow futures were up 126 points, S&P 500 futures were up 15 points and Nasdaq futures were up 31 — all close to a 1% gain.

On Monday, stocks fell in the final hour of trading, with the Dow closing down 123 points, and the S&P 500 losing its last grip of a small monthly gain to close just about flat.

But for the month of February, gold was the clear outperformer. It surged more than 10% as investors bought into assets considered safe. The Japanese yen, another haven asset, came second.

This morning, gold continued to rally, with futures gaining 1%, or $13 an ounce, to $1,247.40. Crude oil was also higher, up 2% to $34.49 per barrel.

It is a huge day for America. It’s Super Tuesday. And in the economy, we’ll get key manufacturing data via Markit’s final PMI for February, as well as ISM’s index.

US auto sales are also rolling in throughout the day, and they would give us a sense of how confident consumers felt about spending on big-ticket items last month.

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