US futures are lower this morning following economic data that came in worse than expected. The Philadelphia Fed business index and core capital goods orders both came in below estimates, while weekly jobless claims were better than expected. The main focus will still be on trade negotiations between the US and China with the upcoming March 1 deadline on tariffs being implemented. Markets in Asia closed mixed with the Shanghai slightly lower while the Hang Seng and the Nikkei closed higher. European markets are trading mostly lower led by the FTSE following some worse than expected earnings. Later today we will get the release of the preliminary Markit US Manufacturing PMI and the index of Leading Economic Indicators.