U.S. stocks fell Thursday.
NEW YORK (CNNMoney)
Assuming no last minute deal, $85 billion in automatic spending cuts are due to begin Friday although it may be weeks or months before the pain is felt. Still, markets are likely to remain in cautious mood as major indices hover just below record highs.
U.S. stock futures were flat before the opening bell.
At 8:30 a.m. ET, the Commerce Department will release data on personal income and spending, while at 10, the Census Bureau publishes data on construction spending.
Also at 10, the Institute for Supply Management will release its monthly manufacturing report, and the University of Michigan and Thomson Reuters will publish the final edition of their consumer sentiment index for February.
In corporate news, Best Buy (BBY, Fortune 500) is scheduled to announce quarterly results before the opening bell.
Fear & Greed Index
U.S. stocks ended in the red Thursday, with the Dow stalling just below its all-time high.
Groupon (GRPN) shares rose in after-hours trading Thursday after the daily deals site announced that embattled CEO Andrew Mason would be replaced.
Gap (GPS, Fortune 500) shares rose after hours following fourth-quarter earnings from the apparel maker that beat expectations.
Shares of Salesforce.com (CRM) also rose following strong earnings announced after the bell.
European markets were steady in morning trading, while Asian markets ended mixed. 
First Published: March 1, 2013: 4:56 AM ET
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