It's a new week and economic data is going to be a key factor as the market (and Fed) weighs how quickly the economy and inflation are slowing.
The data starts at 9:45 am ET with the final S&P Global manufacturing PMI. The prelim was 52.3.
The main events are at 10 am ET with the ISM manufacturing survey and construction spending. ISM is expected to slide to 52.0 from 53.0 but I've been surprised by the strength in regional surveys, so there are upside risks. Construction spending is forecast down 0.1%.
Canada is on holiday today and there is no scheduled Fedspeak but I wouldn't be surprised if someone checks in.
