Economic Events on August 31, 2011

The Mortgage Bankers’ Association purchase index will be released at 7:00 AM EDT, providing an update on the quantity of new mortgages and refinancings closed in the last week.

The Challenger Job-Cut Report will be released at 7:30 AM EDT, providing an estimate of the number of layoffs in August.

At 8:15 AM EDT, the monthly ADP Employment Report will be released.  Investors will be watching this number to get advance notice on the state of the job market in advance of the government’s report on Friday.

At 9:45 AM EDT, the Chicago PMI Index for August will be announced.  The consensus index value is 54.0, which is 4.8 points lower than last month, but is still above the break-even level at 50.

At 10:00 AM EDT, the Factory Orders report for July will be released.  The consensus is that there was an increase of 2.0% in orders from the previous month.

At 10:30 AM EDT, the weekly Energy Information Administration Petroleum Status Report will be released, giving investors an update on oil inventories in the United States.

At 3:00 PM EDT, the Farm Prices report for August will be released, giving investors and economists an indication of the direction of food prices in the coming months.

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