Sunday, July 02, 2017

Monday: Auto Sales, ISM Mfg, Construction Spending

by Bill McBride on 7/02/2017 08:11:00 PM

Weekend:
Schedule for Week of July 2, 2017

Monday:
• At 10:00 AM ET, ISM Manufacturing Index for June. The consensus is for the ISM to be at 55.1, up from 54.9 in May.

• Also at 10:00 AM, Construction Spending for May. The consensus is for a 0.5% increase in construction spending.

• All day: Light vehicle sales for June. The consensus is for light vehicle sales to be 16.6 million SAAR in June, mostly unchanged from 16.6 million in  May (Seasonally Adjusted Annual Rate).

From CNBC: Pre-Market Data and Bloomberg futures: S&P futures are up 4 and DOW futures are up 45 (fair value).

Oil prices were up over the last week with WTI futures at $46.30 per barrel and Brent at $48.77 per barrel.  A year ago, WTI was at $49, and Brent was at $48 - so oil prices are down slightly year-over-year.

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.22 per gallon - a year ago prices were at $2.28 per gallon - so gasoline prices are down 6 cents year-over-year.