Sunday, November 01, 2020

Monday: ISM Mfg, Construction Spending, Vehicle Sales

by Calculated Risk on 11/01/2020 07:47:00 PM

Weekend:
Schedule for Week of November 1, 2020

FOMC Preview

Monday:
• At 10:00 AM ET, ISM Manufacturing Index for October.  The consensus is for 55.8%, up from 55.4%.

• Also at 10:00 AM, Construction Spending for September.  The consensus is for 0.9% increase in spending.

• All day, Light vehicle sales for October. The consensus is for sales of 16.5 million SAAR, up from 16.3 million SAAR in September (Seasonally Adjusted Annual Rate).

From CNBC: Pre-Market Data and Bloomberg futures S&P 500 are down 12 and DOW futures are down 150 (fair value).

Oil prices were down over the last week with WTI futures at $34.18 per barrel and Brent at $36.36 barrel. A year ago, WTI was at $56, and Brent was at $60 - so WTI oil prices are down about 40% year-over-year.

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.11 per gallon. A year ago prices were at $2.58 per gallon, so gasoline prices are down $0.47 per gallon year-over-year.