It is going to be a big week of economic news in a holiday shortened week. We are starting with the Case-Shiller housing price report at 9am today and will work our way to the final GDP numbers and the NFP payroll report at the end of the week.
In between the ADP payrolls report will shed some light on the employment situation, giving analysts a couple of days to adjust their expectations for the “official” unemployment rate and the jobs situation.
Friday will be the grandaddy of news with the ISM Manufacturing report expected to show a slight decline to 53.8. Personal spending is expected to soften as is personal income.
Any surprises to the upside should help stocks as there is apparently a bid on every news item seen over the past couple of weeks.