Markets react to economic data and global tensions

An early equity market bounce appears to be fading as Dow futures sit below the flat line, while the Nasdaq shows modest gains. Positive manufacturing data from China has pushed gold, silver, and copper higher. Meanwhile, U.S. Treasury yields have dropped significantly from recent highs, and the U.S. Dollar is weakening against most major currencies. Crude oil remains volatile as the administration commits to securing the Strait of Hormuz. In labor news, ADP reported stronger-than-expected private job growth for February. Investors are now turning their attention to the Federal Reserve's Beige Book and an upcoming slate of major earnings reports, including Broadcom and Kroger.