Monday, September 03, 2018

Tuesday: ISM Mfg, Construction Spending, Auto Sales

by Calculated Risk on 9/03/2018 08:42:00 PM

Schedule for Week of September 2, 2018

• At 8:00 AM: Corelogic House Price index for July.

• At 10:00 AM: ISM Manufacturing Index for August. The consensus is for the ISM to be at 57.6, down from 58.1 in July. The PMI was at 58.1% in July, the employment index was at 56.5%, and the new orders index was at 60.2%.

• At 10:00 AM: Construction Spending for July. The consensus is for a 0.4% increase in construction spending.

• All day: Light vehicle sales for August. The consensus is for light vehicle sales to be 16.9 million SAAR in August, up from 16.7 million in July (Seasonally Adjusted Annual Rate).

From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 are up 3 and DOW futures are up 10 (fair value).

Oil prices were up over the last week with WTI futures at $70.01 per barrel and Brent at $78.07 per barrel.  A year ago, WTI was at $48, and Brent was at $53 - so oil prices are up 40% to 50% year-over-year.

Here is a graph from for nationwide gasoline prices. Nationally prices are at $2.83 per gallon. A year ago prices were at $2.64 per gallon (jumped last year due to hurricane Harvey) - so gasoline prices are up 19 cents per gallon year-over-year.