Manufacturing PMI, JOLTs Job Openings, and ISM Data to Watch on Tuesday

As traders prepare for another significant day in the financial markets, several crucial decisions and economic data releases are anticipated on Tuesday, October 1, 2024. Key indicators such as the Manufacturing PMI, JOLTs Job Openings, and the ISM Manufacturing PMI will be released, each capable of impacting market sentiment and the outlook on Federal Reserve policy.

Major Economic Events to Monitor

• 9:45 AM ET – Manufacturing PMI (October): This key indicator assesses the health of the manufacturing sector, with forecasts suggesting a drop to 47.0 from the previous 47.9.

• 10:00 AM ET – JOLTs Job Openings (September): This measure of job vacancies is anticipated at 7.640 million, down from the prior 7.673 million.

• 10:00 AM ET – ISM Manufacturing PMI (October): A comprehensive gauge of manufacturing activity, expected to rise to 47.6 from the previous 47.2.

Other Important Economic Events

• 10:00 AM ET – Construction Spending (September): This report measures the change in total construction spending, with a forecast of 0.2%, a recovery from the previous -0.3%.

• 10:00 AM ET – ISM Manufacturing Prices (October): An indicator of inflationary pressures in manufacturing, expected to decline to 53.7 from 54.0.

• 10:00 AM ET – ISM Manufacturing Employment (October): Reflecting employment conditions in the manufacturing sector, the previous reading was 46.0.

• 11:00 AM ET – FOMC Member Bostic Speaks: Remarks from the Atlanta Fed President regarding monetary policy.

• 12:00 PM ET – Atlanta Fed GDPNow (Q3): A real-time estimation of GDP growth, with a forecast remaining unchanged at 3.1%.

• 4:30 PM ET – API Weekly Crude Stock: Overview of US petroleum demand; the previous reading was -4.339 million.

• 6:15 PM ET – FOMC Member Bostic Speaks: A second scheduled appearance for the Atlanta Fed President.

Additional Economic Events

• 8:55 AM ET – Redbook (YoY): This measure of same-store sales growth had a previous reading of 4.4%.

• 10:00 AM ET – Dallas Fed PCE: A gauge of core inflation; previous reading stood at 1.70%.

• 10:00 AM ET – ISM Manufacturing New Orders Index: An indicator of manufacturing demand, with the previous reading recorded at 44.6.

• 10:30 AM ET – Dallas Fed Services Revenues: Reflecting service sector activity in Texas; last recorded reading was 8.7.

• 10:30 AM ET – Texas Services Sector Outlook: An indicator of service sector sentiment in Texas, previously at -7.7.

• 11:10 AM ET – Fed Governor Cook Speaks: Addressing monetary policy considerations.

• 6:15 PM ET – FOMC Member Barkin Speaks: Insights on the economic outlook from the Richmond Fed President.

• 6:15 PM ET – Fed Collins Speaks: Comments on monetary policy from the Boston Fed President.

Stay tuned for updates on these economic events as they may significantly influence market movements.