ISM Services Index Might Decline To This Level In September, Here Are The Major Macro Issues For Wednesday

U.S. stocks closed higher on Tuesday with the Nasdaq Composite gaining around 360 points amid a rise in Amazon.com, Inc. AMZN and Apple Inc. AAPL shares.

Let’s have a look at the major economic events scheduled for today.

• The MBA's index of mortgage application activity for the latest week is scheduled for release at 7:00 a.m. ET.
• The ADP national employment report for September will be released at 8:15 a.m. ET. Private payrolls are expected to come in at 200,000 in September, compared with growth of 308,000 in August.
• Data on international trade in goods and services for August will be released at 8:30 a.m. ET. Analysts expect a deficit of $68.0 billion for total goods and services trade in August, compared with a $70.6 billion gap in July.
• US Services Purchasing Managers' Index for September is scheduled for release at 9:45 a.m. ET. At 49.2, the flash services PMI for September rose sharply from 43.7 in August. Analysts are expecting no change for the final reading.
• The ISM services index for September will be released at 10:00 a.m. ET. The ISM services index is expected to decline slightly to 56 in September from prior reading of 56.9.
• The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.
• Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 4:00 p.m. ET.

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