Sunday, July 01, 2018

Monday: ISM Manufacturing, Construction Spending

by Bill McBride on 7/01/2018 09:17:00 PM

Weekend:
Schedule for Week of July 1, 2018

Monday:
• At 10:00 AM ET, ISM Manufacturing Index for June. The consensus is for the ISM to be at 58.3, down from 58.7 in May. The PMI was at 58.7% in May, the employment index was at 56.3%, and the new orders index was at 63.7%.

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

From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 are up 4, and DOW futures are up 55 (fair value).

Oil prices were up over the last week with WTI futures at $73.40 per barrel and Brent at $78.39 per barrel.  A year ago, WTI was at $46, and Brent was at $47 - so oil prices are up more than 50% year-over-year.

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.85 per gallon. A year ago prices were at $2.22 per gallon - so gasoline prices are up 63 cents per gallon year-over-year.