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Job report, ISM dominate calendar

Non-farm payrolls and manufacturing data are the big events on today's calendar.

The Labor Department issues its monthly employment report at 8:30 a.m. ET. Economists forecast that 220,000 jobs were created last month, down from 288,000 in June. The unemployment rate is expected to remain at 6.1 percent.

The final estimate for the University of Michigan's consumer sentiment follows at 9:55 a.m. ET. While it's expected to come in at 82, the reading usually doesn't have a big impact on trading because it's a revision.

The Institute for Supply Management's manufacturing index at 10 a.m. ET, however, is a major data release. Economists forecast a reading of 55.9 for July, up from 55.3 in the previous month.

Construction spending for June comes out at the same time and is expected to increase to 55.9 from 55.3.

Next week's calendar is less eventful. Tuesday brings ISM's service-sector report and factory orders.

Thursday is the other important session, with retailer monthly same-store sales, initial jobless claims and the European Central Bank's interest-rate decision. The evening brings Chinese-trade numbers and the Bank of Japan's interest-rate announcement.

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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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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