We start the month of September with U.S. stock futures pointing to a slightly lower start, though there is not any notable news to account for the negative bias.
We will digest a number of economic releases today. The ISM Index will be released at 10:00 am ET. The consensus sits just above 50, which would be the first expansion reading in 19 months. Readings above 50 indicate expansion in the manufacturing sector, while readings below 50 indicate contraction. The latest construction spending figures for July also come out at 10:00 and are expected to be unchanged. At the same time, pending home sales data will be released and that number is expected to rise 1.5% from June. Auto and truck sales data will be released later today and are expected to rise on the strength of cash-for-clunkers sales.
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