Manufacturing report leads calendar

By David Russell,

Shutterstock photo

Today's economic calendar focuses on the Institute of Supply Management's manufacturing index, preceded by important global data from the overnight session.

China, Germany, France, and the Eurozone all report purchasing managers indexes long before the start of the U.S. trading day.

The first U.S. release will be the final revision on the University of Michigan's consumer sentiment index at 9:55 a.m. ET. It will probably be overshadowed by the ISM report five minutes later.

Economists expect a reading of 52.4, down from 53.1 in January. A stronger number could be positive for sentiment, while a lower one could trigger selling.

Also at 10 a.m. ET, the Commerce Department will publish January construction spending. Given that it covers a period more than a month in the past, the number is unlikely to affect trading.

Motor-vehicle sales will also be reported at 2 p.m. ET, which could sway sentiment in companies like Ford and General Motors.

Next week's calendar starts quiet, but then builds up to monthly payroll data on Friday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Options
Referenced Stocks: XLI

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