The U.S. Senate reconvenes today and will be considering a spending bill to avoid a government shutdown later this month.
The Institute for Supply Management’s (ISM) report for December may garner the most attention this morning, but the more important news will come from this afternoon’s reports.
- ISM’s manufacturing index rose 1.5 points to 59.7 in December. This included a 14-year high for new orders.
FOMC minutes from December’s rate-hike meeting:
- The minutes will include economic analysis compiled by Fed officials and any dissenting opinions of FOMC members.
- With about three-quarters of the results in, December unit vehicle sales are running slightly above November in what is a positive indication for the December retail sales report.
- Ford Motor Co. reported a U.S. sales year-over-year decrease of 1.1% for 2017 despite increased sport utility vehicle sales (up 2.9%) and truck sales (up 4.3 %).
November construction spending
- Construction spending rose a strong 0.8 percent and showed broad strength in November.