by Calculated Risk on 7/01/2012 09:57:00 PM

The key report Monday will be the ISM Manufacturing survey. Most of the regional surveys were weak in June, and the ISM index will probably decline too.

• At 10:00 AM ET, the ISM Manufacturing Index for June will be released. The consensus is for a decrease to 52.0 from 53.5 in May.

• Also at 10:00 AM, Construction Spending for May will be released. The consensus is for a 0.2% increase in construction spending.

The Asian markets are green tonight. The Nikkei is up 0.3%, and the Shanghai Composite is up slightly.

From CNBC: Pre-Market Data and Bloomberg futures: the S&P 500 futures are down about 2, and Dow futures are down 23.

Oil: WTI futures are up to $84.37 (this is down from $109.77 in February, but up last week) and Brent is at $97.27 per barrel. According to a formula from Professor Hamilton, the price of Brent would suggest gasoline at $3.27 per gallon (the current national average price is $3.35, so even with the increase in Brent, gasoline prices will probably fall further).

Yesterday:
• Summary for Week Ending June 29th
• Schedule for Week of July 1st
For the monthly economic question contest (questions for July):