Monday:
• At 9:00 AM ET, the Markit US PMI Manufacturing Index for June will be released. The consensus is for the index to be unchanged at 52.3.
• At 10:00 AM, the ISM Manufacturing Index for June. The consensus is for an increase to 50.5 from 49.0 in May. Based on the regional surveys, a reading above 50 seems likely.
• Also at 10:00 AM, Construction Spending for May. The consensus is for a 0.6% increase in construction spending.
Weekend:
• Schedule for Week of June 30th
The Asian markets are red tonight with the Nikkei down 0.2%, and Shanghai Composite down 0.4%.
From CNBC: Pre-Market Data and Bloomberg futures: the S&P futures are down 5 and DOW futures are down 25 (fair value).
Oil prices have mostly moved sideways recently with WTI futures at $96.07 per barrel and Brent at $101.70 per barrel.
Below is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are down to about $3.50 per gallon. Based on Brent prices and the calculator at Econbrowser, I expect gasoline prices to fall a little more.
If you click on “show crude oil prices”, the graph displays oil prices for WTI, not Brent; gasoline prices in most of the U.S. are impacted more by Brent prices.
| Orange County Historical Gas Price Charts Provided by GasBuddy.com |