The figures for motor vehicle sales for July will be released today. The consensus estimate is that 14.0 million autos were sold last month, which would be 100,000 less than 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.
The Challenger Job-Cut Report will be released at 7:30 AM Eastern time, providing an estimate of the number of layoffs in July.
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 June 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 July will be released. The consensus estimate is that it increased 0.4 points last month to a value of 50.1, 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.
At 2:15 PM Eastern time, the FOMC Meeting Announcement will be made, which will provide insight into how long the Federal Reserve plans to keep their rates target at 0% to 0.25%. It is assumed that there will be no immediate change in the Fed funds target rate, but any hint that rates could rise in the future could have an impact on the bond market and stock market.