Tuesday Events: U.S. Retail Sales, U.S. Construction Spending, US ISM Index
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(CEP News)- Today's key economic release will be the ISM manufacturing index for June where economists expect a drop to 48.5 from May's 49.6 reading. Canadian markets will be closed to observe Canada Day.
At 7:45 a.m. EDT, ICSC will release its retail sales figures for the week ending June 28. In the previous week, sales advanced by 2.2% year-over-year.
At 8:55 a.m. EDT, Redbook will release its retail sales figures for the week ending June 28. In the previous week, sales advanced by 2.8% year-over-year.
At 10 a.m. EDT, the U.S. Institute for Supply Management will release its manufacturing index for June. Economists expect the headline index to decline to 48.5, and the prices paid index is expected to remain unchanged at 87.0. Markets will also be paying attention to the new orders and employment components, which stood at 49.7 and 45.5 respectively.
At 10 a.m. EDT, the U.S. Commerce Department will release construction spending for May. Economists expected a decline of 0.6% month-over-month following April's 0.4% contraction.
At 1 p.m. EDT the U.S. Treasury will sell $17 billion in 52 week bills and $27 billion in four-week bills.
At 5 p.m. EDT, markets will receive ABC's consumer comfort index for the week ending June 29. In the previous week the index was -43.
At 6 p.m. EDT, Atlanta Federal Reserve President Denis Lockhart will speak on the Economy and the Financial turmoil
7:45 US ICSC Chain Store Sales W/E June 29 (Y/Y) Prior: +2.2%
8:55 Redbook Retail Sales W/E June 29 (Y/Y) Prior: +2.8
10:00 US ISM Manufacturing June Exp: 48.5 Prior: 49.6
10:00 US ISM Prices Paid June Exp: 87.0 Prior: 87.0
10:00 US Construction Spending (M/M) May Exp: -0.6% Prior: -0.4%
13:00 US Treasury to Sell $17B 52-Week Bills
13:00 US Treasury to Sell 4-Week Bills
17:00 US ABC Consumer Confidence 29-Jun Prior: -43
18:00 US Atlanta Fed's Lockhart to speak on economy, financial turmoil
By Steve Stecyk and edited by Stephen Huebl
©CEP News Ltd. 2008
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