U.S. stocks set to stumble again following global selloff

Stock futures point to another day of losses, as global markets continue to react to disappointing manufacturing data from China and the U.S.; S&P -0.7%, Dow and Nasdaq -0.6%.

Asian markets got the selloff going, with the Nikkei -1.9% and the Hang Seng -1.3%; European markets followed suit, and emerging markets are taking another shellacking.

P&G +1% after reporting lower quarterly profit but leaving its 2014 sales growth forecast unchanged, while Microsoft +3.5% after posting better than expected earnings.

With global equities on the defensive, gold and Treasurys are gaining: Gold futures +0.4% at $1266.70, while the yield on the 10-year note fell as low as 2.732% after settling at seven-week low of 2.774% yesterday.

No major U.S. economic data is scheduled for release.

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