by Bill McBride on 7/31/2016 07:45:00 PM
Sunday, July 31, 2016
• Schedule for Week of July 31, 2016
• At 10:00 AM ET: ISM Manufacturing Index for July. The consensus is for the ISM to be at 53.2, unchanged from June. The ISM manufacturing index indicated expansion at 53.2% in June. The employment index was at 50.4%, and the new orders index was at 57.0%.
• Also at 10:00 AM: Construction Spending for June. The consensus is for a 0.6% increase in construction spending.
• At 2:00 PM, the July 2016 Senior Loan Officer Opinion Survey on Bank Lending Practices from the Federal Reserve.
From CNBC: Pre-Market Data and Bloomberg futures: S&P are up 3 and DOW futures are up 38 (fair value).
Oil prices were down over the last week with WTI futures at $41.34 per barrel and Brent at $43.25 per barrel. A year ago, WTI was at $47, and Brent was at $53 - so prices are down 15% to 20% year-over-year.
Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.13 per gallon (down over $0.55 per gallon from a year ago).