Monday: ISM Mfg, Construction Spending

Weekend:
Schedule for Week of August 1, 2021

A Few Comments on Inflation

Monday:
• At 10:00 AM ET, ISM Manufacturing Index for July. The consensus is for the ISM to be at 60.9, up from 60.6 in June. The employment index was at 49.9% in June, and the new orders index was at 66.0%.

• Also at 10:00 AM, Construction Spending for June. The consensus is for a 0.4% increase in construction spending.

• At 2:00 PM, Senior Loan Officer Opinion Survey on Bank Lending Practices for July.

From CNBC: Pre-Market Data and Bloomberg futures S&P 500 are up 19 and DOW futures are up 135 (fair value).

Oil prices were up over the last week with WTI futures at $73.85 per barrel and Brent at $75.26 per barrel. A year ago, WTI was at $40, and Brent was at $43 – so WTI oil prices are UP about 80% year-over-year (oil prices collapsed at the beginning of the pandemic).

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $3.16 per gallon. A year ago prices were at $2.18 per gallon, so gasoline prices are up $0.98 per gallon year-over-year.

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