Economic Events on February 1, 2012

The figures for motor vehicle sales for January will be released today.  The consensus estimate is that 13.6 million autos were sold last month, which would be the same as the previous month.

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

At 8:15 AM Eastern time, 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 10:00 AM Eastern time, the Construction Spending report for December will be released, and the consensus is that there was an increase of 0.5% in spending compared to the previous month.

Also at 10:00 AM Eastern time, the ISM manufacturing index for January will be released.  The consensus estimate is that it increased 0.6 points last month to a value of 54.5, and will still signal economic growth as it stays above the mid-point of 50.

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

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