by Calculated Risk on 5/31/2023 09:00:00 PM

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.

Thursday:
• At 8:15 AM ET, The ADP Employment Report for May. This report is for private payrolls only (no government). The consensus is for 160,000 payroll jobs added in May, down from 296,000 in April.

• At 8:30 AM, The initial weekly unemployment claims report will be released.  The consensus is for 234 thousand initial claims, up from 229 thousand last week.

• At 10:00 AM, ISM Manufacturing Index for May. The consensus is for the ISM to be at 47.0, down from 47.1 in April.

• Also, at 10:00 AM, Construction Spending for April. The consensus is for a 0.2% increase in construction spending.

• All day, Light vehicle sales for May. The consensus is for light vehicle sales to be 14.5 million SAAR in May, up from 14.3 million in April (Seasonally Adjusted Annual Rate).