Monday, January 02, 2017

Tuesday: ISM Manufacturing, Construction Spending

by Bill McBride on 1/02/2017 08:12:00 PM

Weekend:
Schedule for Week of Jan 1, 2017

Tuesday:
• 10:00 AM ET, ISM Manufacturing Index for December. The consensus is for the ISM to be at 53.8, up from 53.2 in November. The ISM manufacturing index indicated expansion at 53.2% in November. The employment index was at 52.3%, and the new orders index was at 53.0%.

• Also at 10:00 AM, Construction Spending for November. The consensus is for a 0.6% increase in construction spending.

From CNBC: Pre-Market Data and Bloomberg futures: S&P futures are up 7, and DOW futures are up 75 (fair value).

Oil prices were up over the last week with WTI futures at $54.01 per barrel and Brent at $56.82 per barrel.  A year ago, WTI was at $36, and Brent was at $37 - so oil prices are up about 50% year-over-year.

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.35 per gallon - a year ago prices were at $2.00 per gallon - so gasoline prices are up about 35 cents per gallon year-over-year.