CNBC Daily Open: U.S. manufacturing struggles to recover

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

No stopping the Nikkei
Japan's Nikkei 225 closed at a record 40,109.23 level Monday, up 0.5%, while the broader Topix dropped 0.12%. The CSI 300 was lower as investors focused on China's annual meetings and Hong Kong's Hang Seng index also fell. U.S. stocks ended Friday on a strong note. The Nasdaq  rose to an all-time high, crossing its 2021 record, soaring over 1%.The S&P 500 also closed at a fresh high, adding 0.80% to end above the 5,100 level for the first time. The Dow rose around 91 points.

China key meetings in focus
China is set to hold its annual parliamentary meetings this week that will be closely watched by investors for signals on economic stimulus. An ailing property sector and sluggish growth has raised questions on whether Beijing will step in with large-scale support. So far, policymakers have been relatively reserved on that front.

Oil dips on OPEC cuts
Oil prices inched lower Monday after OPEC+ agreed to extend voluntary output cuts until the second quarter, aimed at supporting short-term stability in crude markets. The move "clearly shows strong unity within the group, something that was put into question after the November ministerial meeting, which saw Angola leaving OPEC," noted Rystad Energy's Senior Vice President Jorge Leon.  

UK pre-election budget
U.K. finance minister Jeremy Hunt is expected to deliver a modest package of tax cuts at his Spring Budget on Wednesday. This will likely be the Conservative government's last fiscal event before the country's upcoming General