There’s some good economic data on deck today that will help the market answer questions about the state of the economy, and possibly provide insight into what the Fed will do over the coming meetings.
The biggest of the datapoints is going to be the ADP Jobs report for May, which serves as a proxy for the official Non-Farm Payrolls report, which will be coming out on Friday.
Here are the three datapoints, via Calculated Risk:
• At 8:15 AM, the ADP Employment Report for May will be released. This report is for private payrolls only (no government). The consensus is for 171,000 payroll jobs added in May.
• At 10:00 AM, the ISM non-Manufacturing Index for May. The consensus is for a reading of 53.8, up from 53.1 in April. Note: Above 50 indicates expansion, below 50 contraction.
• Also at 10:00 AM, the Manufacturers’ Shipments, Inventories and Orders (Factory Orders) for April. The consensus is for a 1.4% increase in orders.
Business Insider Emails & Alerts
Site highlights each day to your inbox.