A quick look at the economic calendar today
We have already seen the ADP come out better than expectations (with caveats as the creator of the number discounted its strength). Later today, the calendar has a good deal of releases.
- Markit Canada manufacturing PMI for April will be released at 9:30 AM ET. Last month the index came in at 50.5
- Markit US manufacturing PMI for April (final) will be released at 9:45 AM ET. The estimate is for 52.4 versus 52.4 in the preliminary report
- US ISM manufacturing for April we released at 10 AM ET with estimate at 55.0 versus 54.3 last month. Employment was at 57.5. Prices paid is expected to rise to 55.0 from 54.3. New orders last month came in a 57.4
- construction spending for March will also be released at 10 AM ET investment 40.0% versus 1.0% last month
- DOE crude oil Tories are expected to show a build of 1750K. The private data last night showed a surprise build of 6810K.
- the FOMC rate decision will be made at 2 PM ET with the Chair Powell press conference scheduled for 2:30 PM ET
