by Bill McBride on 8/02/2015 08:53:00 PM
Sunday, August 02, 2015
• Schedule for Week of August 2, 2015
• At 8:30 AM, Personal Income and Outlays for June. The consensus is for a 0.3% increase in personal income, and for a 0.2% increase in personal spending. And for the Core PCE price index to increase 0.1%.
• At 10:00 AM, ISM Manufacturing Index for July. The consensus is for the ISM to be at 53.7, up from 53.5 in June. The ISM manufacturing index indicated expansion at 53.5% in June. The employment index was at 55.5%, and the new orders index was at 56.0%.
• Also at 10:00 AM, Construction Spending for June. The consensus is for a 0.6% increase in construction spending.
• All day: Light vehicle sales for July. The consensus is for light vehicle sales to increase to 17.2 million SAAR in July from 17.1 million in June (Seasonally Adjusted Annual Rate).
From CNBC: Pre-Market Data and Bloomberg futures: currently S&P futures are up slightly and DOW futures are up 20 (fair value).
Oil prices were down over the last week with WTI futures at $46.84 per barrel and Brent at $51.81 per barrel. A year ago, WTI was at $105, and Brent was at $106 - so prices are down over 50% year-over-year.
Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.65 per gallon (down about $0.85 per gallon from a year ago).