Manufacturing kicks off busy week

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This week's calendar is busy, starting with key overseas manufacturing data.

The HSBC Markit purchasing managers index for China was scheduled for release last night, followed by similar numbers for Europe early this morning.

The first U.S. economic headlines begin at 10 a.m. ET with the Institute for Supply Management's manufacturing index and construction spending. The ISM, more important by far, is expected to come in at 55.5, down from 56.4 last month.

Construction spending will include data for September and October, with gains of 0.4 percent and 0.3 percent respectively.

There are no U.S. releases for tomorrow, though Chinese service-sector data and Australian economic growth are scheduled for the evening.

Wednesday marks the beginning of the important monthly employment numbers, with ADP's private-sector payrolls report. U.S. and European service-sector indexes are also on the agenda, along with new home sales and the Federal Reserve's Beige Book report of economic conditions.

Thursday brings the European Central Bank's monetary-policy announcement, revised third-quarter gross domestic product, initial jobless claims, and factory orders. Select retailers also announce monthly same-store sales for November.

Friday features the key non-farm payrolls report, European GDP, and consumer sentiment.



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