Here comes Chicago PMI ...

The Chicago purchasing manager’s index for July is set for release at 9:45 a.m. ET.

Economists forecast that the business barometer fell to 54 from 56.8 during the month, according to Bloomberg. It would still remain above 50, the border between expansion and contraction.

Last month, the index rose to its highest level since January 2015 amid a surge in new orders, order backlogs, and production. During June, businesses also ended a seven-month run in contracting inventories.

More to come …

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