U.S. stocks closed sharply lower on Monday with Zoom Video Communications, Inc. ZM reporting mixed quarterly results after the closing bell.
Let’s have a look at the major economic events scheduled for today.
- The flash Composite Purchasing Managers' Index for August is scheduled for release at 9:45 a.m. ET. Services index, which dropped into sizable contraction in July, is expected to recover slightly to 49.0 in August from 47.3. Analysts expect manufacturing index easing further to 51.8 from 52.2.
- Data on new home sales for July will be released at 10:00 a.m. ET. After a weaker-than-expected 590,000 annualized rate in June, sales of new homes are likely to decline further to 575,000 in July.
- The Richmond Fed's manufacturing index for August is scheduled for release at 10:00 a.m. ET. The index is projected to move back into contraction zone to minus 3 in August compared to July's zero reading.
- The Treasury is set to auction 2-year notes at 1:00 p.m. ET.
- Data on money supply for July will be released at 1:00 p.m. ET.
- Federal Reserve Bank of Minneapolis President Neel Kashkari is set to speak at 7:00 p.m. ET.
Check out our premarket coverage here
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