Tuesday, October 31, 2017

Wednesday: FOMC Annoucement, ADP Employment, Vehicle Sales, ISM Mfg, Construction Spending

by Bill McBride on 10/31/2017 08:08:00 PM

Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:15 AM, The ADP Employment Report for October. This report is for private payrolls only (no government). The consensus is for 210,000 payroll jobs added in October, up from 135,000 added in September.

• At 10:00 AM, ISM Manufacturing Index for October. The consensus is for the ISM to be at 59.5, down from 60.8 in September. The PMI was at 60.8% in September, the employment index was at 60.3%, and the new orders index was at 64.6%.

• Also at 10:00 AM, Construction Spending for September. The consensus is for a 0.1% increase in construction spending.

• All Day, Light vehicle sales for October. The consensus is for light vehicle sales to be 17.5 million SAAR in October, down from 18.6 million in September (Seasonally Adjusted Annual Rate).

• At 2:00 PM, FOMC Meeting Announcement. The FOMC is expected to announce no change to policy at this meeting.