U.S. stocks appeared set to start August with gains, as overseas markets have rallied. On Friday, the markets posted their best monthly gain in over a year with major indices gaining nearly 7% each.
Earnings will continue to be in the spotlight this week, but there will also be several key economic reports due this week. Today, the Institute of Supply Management releases its July manufacturing index and there will also be a report released on construction spending. Motor vehicle sales, personal income and spending data, factory orders, and pending home sales data will be released Tuesday. On Wednesday we will see the ADP employment report and the ISM services index. Weekly jobless claims will be announce Thursday, and we end the week with the closely watched monthly employment situation report.
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