The US manufacturing purchasing managers report from the Institute for Supply Management is due at 10 am ET today. The Econoday consensus forecast for the ISM manufacturing index calls for a modest uptick to 49.5 in October from 49.1 in September and 48.7 in August. Anything below 50 indicates contracting business so this outcome would suggest ongoing slow erosion. Given the absence of official indicators, this may get outsized attention today as a tier-one indicator.

Also in focus today: a trifecta of Federal Reserve speakers starting with Chicago Fed President Austan Goolsbee interviewed live on Yahoo Finance at 10 am ET. Then it's San Francisco Fed President Mary Daly at noon ET in a moderated conversation hosted by the Forum Club of the Palm Beaches. And finally, Federal Governor Lisa Cook at the Brookings Institution.

Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.

Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.