Highlights
The flash US S&P purchasing managers report for October is due at 9:45 am ET, providing an early read on business conditions. The Econoday consensus looks for manufacturing at 55.5 versus 55.9 in the September final report. Services is seen at 58.0 versus 58.8. These numbers would suggest ongoing fairly robust expansion, pretty remarkable given the energy price shock and related disruptions and uncertainty. Under the hood, look for another month of accelerating input cost pressures reflecting the energy prices, and another month of very cautious hiring.
At 10 am ET, the highly respected final University of Michigan consumer sentiment report is due. The Econoday consensus sees the sentiment index unrevised at 46.3 in the final from the flash report, a very weak number.