Highlights
On the economic calendar today, the main event will be the ISM purchasing managers services report due at 10 am ET. The Econoday consensus looks for the services index at 55.0 in September compared with 55.4 in August. Expanding business activity has been reflecting decent gains in current production and new orders though employment contracted at 47.8 in August and 47.4 in July. Input price pressures have been accelerating with a scary 72.6 prices paid reading in August and 70.3 in July. There is every reason to expect a similar prices index for September.
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