U.S. Manufacturing, Services PMI Might Decline Further To This Level In July, Here Are The Major Macro Issues For Friday

The Nasdaq 100 closed sharply higher on Thursday, after Tesla, Inc. TSLA reported better-than-expected earnings for its second quarter.

Below is a look at the major economic reports scheduled for release today.

The flash Composite Purchasing Managers' Index for July will be released at 9:45 a.m. ET. Both manufacturing and services declined in June, with analysts expecting manufacturing PMI dropping to 51.8 in July from 52.7 in June, while services index might decline to 52.3 from 52.7.

The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.

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