The highlights of Monday’s economic calendar are data on the manufacturing sector during April.
At 9:45 a.m. ET, Markit Economics will release its final purchasing manager’s index, which is expected at 50.8 — unchanged from the preliminary reading.
Then at 10 a.m., the more widely quoted ISM manufacturing index is expected at 52, up from 51.5 in the prior period.
Two of the big challenges the sector has faced in the last few years have been reversing course. Crude oil prices have risen about 20% this year. And, the broad trade-weighted dollar index is at the lowest levels since October.
“This should help the manufacturing sector, as US goods regain some competitiveness in the global economy,” Bank of America Merrill Lynch economists wrote to clients. “Crude oil prices have also been on the uptrend, relieving some pressure on the energy sector.”
“That said, there are some downside risks as the regional Philly Fed survey showed a significant decline in shipments, new orders, and employees.”
We’ll have the latest as the data cross, so refresh this page for updates.