Tuesday:
• Early: The LPS July Mortgage Monitor report. This is a monthly report of mortgage delinquencies and other mortgage data.
• At 9:00 AM ET, The Markit US PMI Manufacturing Index for August. The consensus is for the index to increase to 53.9 from 53.7 in July.
• 10:00 AM, the ISM Manufacturing Index for August. The consensus is for an decrease to 53.8 from 55.4 in July. Based on the regional surveys, a decrease in August seems likely. The ISM manufacturing index indicated expansion in 55.4% in July. The employment index was at 54.4%, and the new orders index was at 58.3%
• Also at 10:00 AM, Construction Spending for July. The consensus is for a 0.3% increase in construction spending.
Weekend:
• Schedule for Week of September 1st
The Nikkei is up about 2.3%.
From CNBC: Pre-Market Data and Bloomberg futures: the S&P futures are up 15 and DOW futures are up 111 (fair value).
Oil prices have declined slightly with WTI futures at $106.87 per barrel and Brent at $114.34 per barrel. Below is a graph from Gasbuddy.com for nationwide gasoline prices. 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 |