Monday: ISM Mfg, Construction Spending

by Calculated Risk on 10/02/2022 07:42:00 PM

Weekend:
o Schedule for Week of October 2, 2022

Monday:
o At 10:00 AM ET, ISM Manufacturing Index for September. The consensus is for a reading of 52.2, down from 52.8 in August.

o Also, at 10:00 AM, Construction Spending for August. The consensus is for a 0.3% decrease.

From CNBC: Pre-Market Data and Bloomberg futures S&P 500 are down 1 and DOW futures are up 42 (fair value).

Oil prices were up over the last week with WTI futures at $79.49 per barrel and Brent at $85.14 per barrel. A year ago, WTI was at $76, and Brent was at $79 – so WTI oil prices are up 5% year-over-year.

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $3.76 per gallon. A year ago, prices were at $3.18 per gallon, so gasoline prices are up $0.58 per gallon year-over-year. NOTE: Gasoline prices in Los Angeles have spiked to near record $6.28 per gallon due to refinery issues.